State Street Corporation $STT Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC trimmed its holdings in State Street Corporation (NYSE:STT) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,774 shares of the asset manager’s stock after selling 3,238 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in State Street were worth $21,774,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of STT. Regents of The University of California acquired a new stake in shares of State Street in the third quarter valued at about $324,576,000. Impax Asset Management Group plc lifted its stake in shares of State Street by 49.2% in the third quarter. Impax Asset Management Group plc now owns 127,984 shares of the asset manager’s stock valued at $14,847,000 after purchasing an additional 42,198 shares during the period. Nordea Investment Management AB lifted its stake in shares of State Street by 15.4% in the fourth quarter. Nordea Investment Management AB now owns 2,829,271 shares of the asset manager’s stock valued at $367,041,000 after purchasing an additional 377,568 shares during the period. Caprock Group LLC purchased a new stake in shares of State Street in the 3rd quarter worth about $2,296,000. Finally, BTC Capital Management Inc. purchased a new stake in shares of State Street in the 3rd quarter worth about $3,012,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at State Street

In other news, EVP W. Bradford Hu sold 9,212 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total transaction of $1,431,084.20. Following the completion of the transaction, the executive vice president owned 59,552 shares of the company’s stock, valued at $9,251,403.20. This represents a 13.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Plansky sold 16,100 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 56,162 shares of the company’s stock, valued at approximately $6,982,059.84. This represents a 22.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 52,476 shares of company stock worth $7,624,925. Corporate insiders own 0.27% of the company’s stock.

State Street Price Performance

NYSE:STT opened at $161.91 on Tuesday. The firm has a market cap of $44.81 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 0.88 and a beta of 1.43. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.04. The company’s 50-day moving average is $147.70 and its two-hundred day moving average is $134.16. State Street Corporation has a 12-month low of $95.67 and a 12-month high of $163.95.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.20. State Street had a net margin of 13.47% and a return on equity of 14.22%. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the company posted $2.04 EPS. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. Research analysts expect that State Street Corporation will post 12.35 EPS for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.1%. State Street’s dividend payout ratio is currently 34.08%.

Analyst Upgrades and Downgrades

Several research firms recently commented on STT. Keefe, Bruyette & Woods boosted their price objective on shares of State Street from $157.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Morgan Stanley boosted their price objective on shares of State Street from $155.00 to $166.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Zacks Research upgraded shares of State Street from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Wells Fargo & Company boosted their price objective on shares of State Street from $162.00 to $171.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, The Goldman Sachs Group boosted their price objective on shares of State Street from $152.00 to $168.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.57.

State Street Company 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.