L & S Advisors Inc Increases Stock Holdings in State Street Corporation $STT

L & S Advisors Inc raised its stake in State Street Corporation (NYSE:STT) by 18.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 119,699 shares of the asset manager’s stock after purchasing an additional 18,321 shares during the quarter. State Street accounts for 1.4% of L & S Advisors Inc’s investment portfolio, making the stock its 14th biggest holding. L & S Advisors Inc’s holdings in State Street were worth $15,442,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of STT. Chicago Partners Investment Group LLC boosted its position in shares of State Street by 1.6% in the fourth quarter. Chicago Partners Investment Group LLC now owns 5,351 shares of the asset manager’s stock worth $675,000 after buying an additional 83 shares during the period. Wedmont Private Capital boosted its position in shares of State Street by 1.3% in the fourth quarter. Wedmont Private Capital now owns 6,498 shares of the asset manager’s stock worth $861,000 after buying an additional 85 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of State Street by 38.2% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after buying an additional 94 shares during the period. Arjuna Capital boosted its position in shares of State Street by 0.4% in the fourth quarter. Arjuna Capital now owns 25,139 shares of the asset manager’s stock worth $3,243,000 after buying an additional 95 shares during the period. Finally, LVW Advisors LLC boosted its position in shares of State Street by 1.7% in the fourth quarter. LVW Advisors LLC now owns 5,605 shares of the asset manager’s stock worth $723,000 after buying an additional 96 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at State Street

In other State Street news, COO Mostapha Tahiri sold 9,611 shares of the company’s stock in a transaction that occurred on 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 owned 64,642 shares in the company, valued at $9,885,701.06. This represents a 12.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John Plansky sold 16,100 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total value of $2,001,552.00. Following the sale, the executive vice president owned 56,162 shares in the company, valued at $6,982,059.84. The trade was a 22.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,711 shares of company stock worth $3,933,032 over the last quarter. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their target price on State Street from $155.00 to $166.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Royal Bank Of Canada increased their price target on State Street from $135.00 to $155.00 and gave the company a “sector perform” rating in a report on Monday, April 20th. Keefe, Bruyette & Woods increased their price target on State Street from $157.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, April 20th. The Goldman Sachs Group increased their price target on State Street from $152.00 to $168.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Barclays set a $165.00 price target on State Street in a 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 given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.77.

State Street Trading Down 0.6%

Shares of STT opened at $152.89 on Friday. The company has a market capitalization of $42.32 billion, a P/E ratio of 15.51, a P/E/G ratio of 0.84 and a beta of 1.45. State Street Corporation has a one year low of $94.19 and a one year high of $156.18. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a 50-day moving average price of $136.77 and a 200 day moving average price of $129.56.

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

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st were paid a dividend of $0.84 per share. The ex-dividend date was Wednesday, April 1st. This represents a $3.36 annualized dividend and a yield of 2.2%. State Street’s dividend payout ratio is presently 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.