SG Americas Securities LLC Decreases Stock Holdings in State Street Corporation $STT

SG Americas Securities LLC lowered its holdings in shares of State Street Corporation (NYSE:STT) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 259,538 shares of the asset manager’s stock after selling 5,848 shares during the quarter. SG Americas Securities LLC owned 0.09% of State Street worth $32,847,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wilkerson Advisory Group LLC bought a new position in shares of State Street in the 4th quarter valued at about $29,000. JPL Wealth Management LLC bought a new stake in State Street during the third quarter worth approximately $29,000. Phillip James Consulting Co. bought a new stake in State Street during the fourth quarter worth approximately $30,000. Reflection Asset Management purchased a new stake in State Street during the fourth quarter valued at approximately $35,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of State Street in the 3rd quarter valued at approximately $35,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

STT has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lifted their target price on State Street from $157.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. JPMorgan Chase & Co. raised their price target on State Street from $137.50 to $158.50 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Evercore set a $158.00 price objective on shares of State Street and gave the stock an “outperform” rating in a research note on Monday, April 20th. Barclays set a $165.00 price objective on shares of State Street in a research report on Monday, April 20th. Finally, Weiss Ratings raised shares of State Street from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $159.97.

Insider Buying and Selling at State Street

In other news, EVP W. Bradford Hu sold 9,212 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total value of $1,431,084.20. Following the completion of the sale, the executive vice president owned 59,552 shares in the company, valued at approximately $9,251,403.20. The trade was a 13.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael L. Richards sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $162.14, for a total transaction of $243,210.00. Following the completion of the sale, the executive vice president directly owned 41,827 shares of the company’s stock, valued at $6,781,829.78. The trade was a 3.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 37,876 shares of company stock valued at $5,866,583 in the last ninety days. 0.27% of the stock is owned by insiders.

State Street Trading Up 0.2%

STT opened at $174.13 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.04. The stock’s fifty day moving average is $156.07 and its two-hundred day moving average is $138.15. The company has a market capitalization of $48.19 billion, a P/E ratio of 17.66, a PEG ratio of 0.95 and a beta of 1.43. State Street Corporation has a 52 week low of $101.84 and a 52 week high of $175.46.

State Street (NYSE:STT) last issued its earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.20. State Street had a return on equity of 14.22% and a net margin of 13.47%.The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the prior year, the business earned $2.04 EPS. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. Analysts forecast that State Street Corporation will post 12.35 earnings per share for the current year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $3.36 dividend on an annualized basis and a yield of 1.9%. State Street’s dividend payout ratio is 34.08%.

State Street News Roundup

Here are the key news stories impacting State Street this week:

• Neutral Sentiment: State Street exited or reduced substantial holdings in several companies, including Smartgroup, Aussie Broadband, Deterra Royalties, Electro Optic Systems, Super Retail Group, Austal, Bapcor, Bega Cheese, and Clarity Pharmaceuticals. These are disclosure items tied to asset management positions, not State Street’s own earnings or guidance. Article: State Street exits substantial holding in Smartgroup
• Neutral Sentiment: State Street SPDR Straits Times Index ETF issued an updated prospectus for its Singapore benchmark fund, another routine fund-management update that is unlikely to have a major direct impact on STT’s near-term fundamentals. Article: State Street SPDR STI ETF issues updated prospectus for Singapore benchmark fund

State Street Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.