Todd Asset Management LLC Sells 64,306 Shares of State Street Corporation $STT

Todd Asset Management LLC lowered its stake in State Street Corporation (NYSE:STT) by 22.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 220,639 shares of the asset manager’s stock after selling 64,306 shares during the quarter. Todd Asset Management LLC owned approximately 0.08% of State Street worth $25,596,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brown Advisory Inc. raised its stake in shares of State Street by 0.5% during the 2nd quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock worth $1,832,000 after purchasing an additional 93 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in State Street by 38.2% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after acquiring an additional 94 shares in the last quarter. Global Retirement Partners LLC lifted its stake in State Street by 7.7% in the third quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock valued at $171,000 after acquiring an additional 105 shares during the last quarter. Security National Bank of SO Dak grew its position in shares of State Street by 0.5% in the 2nd quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock valued at $2,289,000 after acquiring an additional 105 shares during the period. Finally, Harbour Investments Inc. increased its stake in shares of State Street by 11.7% during the 2nd quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock worth $108,000 after purchasing an additional 106 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Stock Up 1.3%

Shares of STT opened at $127.89 on Monday. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. State Street Corporation has a 12 month low of $72.81 and a 12 month high of $137.05. The firm’s 50 day moving average is $129.98 and its 200-day moving average is $120.04. The stock has a market capitalization of $35.72 billion, a PE ratio of 13.59, a P/E/G ratio of 1.12 and a beta of 1.43.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.15. State Street had a return on equity of 13.46% and a net margin of 13.02%.The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the business posted $2.60 earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities research analysts forecast that State Street Corporation will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 12th. Investors of record on Friday, January 2nd were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, January 2nd. State Street’s payout ratio is 35.71%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Citigroup boosted their target price on State Street from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, December 30th. Keefe, Bruyette & Woods increased their price objective on shares of State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. TD Cowen reiterated a “buy” rating on shares of State Street in a research note on Wednesday, January 7th. The Goldman Sachs Group restated a “buy” rating on shares of State Street in a report on Tuesday, January 6th. Finally, Morgan Stanley dropped their price target on State Street from $168.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, State Street presently has an average rating of “Moderate Buy” and a consensus price target of $135.83.

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.