7,679 Shares in State Street Corporation $STT Purchased by Legato Capital Management LLC

Legato Capital Management LLC acquired a new position in State Street Corporation (NYSE:STT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 7,679 shares of the asset manager’s stock, valued at approximately $991,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Axxcess Wealth Management LLC purchased a new position in State Street in the fourth quarter worth about $240,000. Global Retirement Partners LLC raised its holdings in shares of State Street by 476.7% during the 4th quarter. Global Retirement Partners LLC now owns 8,478 shares of the asset manager’s stock worth $1,094,000 after acquiring an additional 7,008 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of State Street during the 4th quarter worth approximately $334,000. ABN Amro Investment Solutions raised its holdings in shares of State Street by 17.8% during the 4th quarter. ABN Amro Investment Solutions now owns 42,562 shares of the asset manager’s stock worth $5,491,000 after acquiring an additional 6,419 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of State Street by 48.4% during the 4th quarter. IFP Advisors Inc now owns 1,226 shares of the asset manager’s stock valued at $158,000 after purchasing an additional 400 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Mostapha Tahiri sold 9,611 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $152.93, for a total transaction of $1,469,810.23. Following the sale, the chief operating officer directly owned 64,642 shares of the company’s stock, valued at $9,885,701.06. This trade represents a 12.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Plansky sold 16,100 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the completion of the transaction, the executive vice president owned 56,162 shares of the company’s stock, valued at approximately $6,982,059.84. This represents a 22.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,711 shares of company stock valued at $3,933,032 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on STT shares. The Goldman Sachs Group boosted their target price on State Street from $152.00 to $168.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Argus upped their target price on State Street from $140.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Royal Bank Of Canada upped their price objective on State Street from $135.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Monday, April 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of State Street from $137.50 to $158.50 and gave the stock a “neutral” rating in a report on Monday, May 11th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, State Street presently has a consensus rating of “Moderate Buy” and an average price target of $155.77.

State Street Trading Up 0.0%

State Street stock opened at $153.96 on Tuesday. The stock has a 50-day moving average of $140.38 and a two-hundred day moving average of $131.20. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57. State Street Corporation has a one year low of $94.19 and a one year high of $156.18. The stock has a market cap of $42.61 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 0.84 and a beta of 1.45.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.20. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.59 billion. State Street had a return on equity of 14.22% and a net margin of 13.47%.The company’s revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.04 earnings per share. On average, research analysts anticipate that State Street Corporation will post 12.35 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be given a $0.84 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $3.36 dividend on an annualized basis and a yield of 2.2%. State Street’s dividend payout ratio is currently 34.08%.

About State Street

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.