Seaward Management Limited Partnership cut its stake in shares of State Street Corp. (NYSE:STT) by 1.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 36,158 shares of the company’s stock after selling 650 shares during the period. Seaward Management Limited Partnership’s holdings in State Street Corp. were worth $1,949,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of State Street Corp. by 1.1% in the first quarter. Geode Capital Management LLC now owns 3,172,141 shares of the company’s stock valued at $185,248,000 after buying an additional 33,199 shares during the last quarter. BlackRock Group LTD boosted its position in State Street Corp. by 1.8% in the first quarter. BlackRock Group LTD now owns 3,170,376 shares of the company’s stock worth $185,530,000 after buying an additional 55,920 shares in the last quarter. Legal & General Group Plc boosted its position in State Street Corp. by 4.6% in the first quarter. Legal & General Group Plc now owns 1,839,918 shares of the company’s stock worth $107,671,000 after buying an additional 81,262 shares in the last quarter. Cornerstone Investment Partners LLC boosted its position in State Street Corp. by 8.9% in the first quarter. Cornerstone Investment Partners LLC now owns 1,525,915 shares of the company’s stock worth $89,297,000 after buying an additional 124,880 shares in the last quarter. Finally, Norges Bank bought a new position in State Street Corp. during the fourth quarter worth about $74,824,000. Institutional investors own 86.10% of the company’s stock.

State Street Corp. (NYSE:STT) traded up 1.38% during midday trading on Tuesday, hitting $69.97. 2,128,652 shares of the stock were exchanged. The company’s 50 day moving average is $69.03 and its 200-day moving average is $61.54. The stock has a market cap of $27.29 billion, a PE ratio of 14.27 and a beta of 1.49. State Street Corp. has a 1-year low of $50.60 and a 1-year high of $75.40.

State Street Corp. (NYSE:STT) last announced its earnings results on Wednesday, July 27th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business earned $2.57 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period in the previous year, the business posted $1.36 earnings per share. State Street Corp.’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts expect that State Street Corp. will post $0.02 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 29th. This is a positive change from State Street Corp.’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a yield of 2.17%. State Street Corp.’s payout ratio is presently 27.64%.

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

In other State Street Corp. news, EVP Karen C. Keenan sold 1,000 shares of State Street Corp. stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $57.51, for a total transaction of $57,510.00. Following the completion of the sale, the executive vice president now directly owns 65,883 shares in the company, valued at $3,788,931.33. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jeffrey N. Carp sold 45,000 shares of State Street Corp. stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $53.80, for a total transaction of $2,421,000.00. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

State Street Corp. Company Profile

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.

5 Day Chart for NYSE:STT

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