Canandaigua National Bank & Trust Co. lowered its stake in shares of State Street Corp. (NYSE:STT) by 17.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,820 shares of the company’s stock after selling 2,010 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in State Street Corp. were worth $529,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. FDO Partners LLC acquired a new position in State Street Corp. during the first quarter valued at $271,000. Continental Advisors LLC raised its position in State Street Corp. by 80.7% in the first quarter. Continental Advisors LLC now owns 29,100 shares of the company’s stock valued at $1,703,000 after buying an additional 13,000 shares during the last quarter. Prudential Financial Inc. raised its position in State Street Corp. by 11.9% in the first quarter. Prudential Financial Inc. now owns 860,131 shares of the company’s stock valued at $50,335,000 after buying an additional 91,500 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in State Street Corp. by 4.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 107,454 shares of the company’s stock valued at $6,288,000 after buying an additional 4,135 shares during the last quarter. Finally, WASHINGTON TRUST Co raised its position in shares of State Street Corp. by 6.0% in the first quarter. WASHINGTON TRUST Co now owns 320,735 shares of the company’s stock worth $18,769,000 after buying an additional 18,064 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

State Street Corp. (NYSE:STT) traded up 1.57% on Wednesday, reaching $71.07. 1,999,837 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $69.20 and a 200-day moving average of $61.60. State Street Corp. has a 12 month low of $50.60 and a 12 month high of $75.40. The firm has a market capitalization of $27.72 billion, a price-to-earnings ratio of 14.50 and a beta of 1.49.

State Street Corp. (NYSE:STT) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.20. State Street Corp. had a net margin of 20.19% and a return on equity of 11.22%. The firm earned $2.57 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the firm earned $1.36 EPS. The business’s revenue was down 1.3% on a year-over-year basis. On average, equities analysts expect that State Street Corp. will post $0.02 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be issued a $0.38 dividend. The ex-dividend date is Thursday, September 29th. This is an increase from State Street Corp.’s previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a yield of 2.14%. State Street Corp.’s dividend payout ratio is 27.64%.

A number of brokerages have commented on STT. Sandler O’Neill lowered shares of State Street Corp. from a “buy” rating to a “hold” rating and set a $73.00 price objective on the stock. in a report on Tuesday, September 6th. Jefferies Group boosted their price objective on shares of State Street Corp. from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Zacks Investment Research upgraded shares of State Street Corp. from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Tuesday, September 6th. Credit Suisse Group AG reiterated a “hold” rating and issued a $74.00 price objective on shares of State Street Corp. in a report on Tuesday, September 6th. Finally, Deutsche Bank AG boosted their price objective on shares of State Street Corp. from $70.00 to $73.00 and gave the stock a “hold” rating in a report on Friday, September 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $70.13.

In other State Street Corp. news, EVP Jeffrey N. Carp sold 5,000 shares of the stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $55.00, for a total value of $275,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Karen C. Keenan sold 7,500 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $65.00, for a total transaction of $487,500.00. Following the completion of the sale, the executive vice president now directly owns 58,383 shares of the company’s stock, valued at $3,794,895. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by company insiders.

About State Street Corp.

State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world.

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