Arvest Bank Trust Division Sells 5,719 Shares of State Street Corp (STT)
Arvest Bank Trust Division reduced its position in shares of State Street Corp (NYSE:STT) by 2.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 192,678 shares of the asset manager’s stock after selling 5,719 shares during the quarter. State Street accounts for about 1.3% of Arvest Bank Trust Division’s investment portfolio, making the stock its 24th biggest holding. Arvest Bank Trust Division’s holdings in State Street were worth $18,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently bought and sold shares of the company. Schroder Investment Management Group boosted its position in State Street by 73.8% during the second quarter. Schroder Investment Management Group now owns 3,128 shares of the asset manager’s stock valued at $281,000 after purchasing an additional 1,328 shares during the last quarter. ETRADE Capital Management LLC acquired a new position in State Street during the second quarter valued at approximately $540,000. MML Investors Services LLC boosted its position in State Street by 3.7% during the second quarter. MML Investors Services LLC now owns 5,703 shares of the asset manager’s stock valued at $512,000 after purchasing an additional 203 shares during the last quarter. Cibc World Markets Corp boosted its position in State Street by 33.2% during the second quarter. Cibc World Markets Corp now owns 49,969 shares of the asset manager’s stock valued at $4,484,000 after purchasing an additional 12,460 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in State Street by 16.8% during the second quarter. Nordea Investment Management AB now owns 208,710 shares of the asset manager’s stock valued at $18,728,000 after purchasing an additional 29,981 shares during the last quarter. 88.11% of the stock is owned by institutional investors.
Several brokerages recently commented on STT. Royal Bank of Canada reduced their price target on State Street from $104.00 to $95.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $114.00 price target on shares of State Street in a research report on Friday, December 22nd. Zacks Investment Research cut State Street from a “buy” rating to a “hold” rating and set a $109.00 price target for the company. in a research report on Friday, January 5th. Barclays increased their price target on State Street from $104.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Vining Sparks reissued a “buy” rating and set a $120.00 price target on shares of State Street in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $101.13.
State Street (NYSE:STT) last released its quarterly earnings data on Monday, October 23rd. The asset manager reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.10. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. State Street had a return on equity of 13.03% and a net margin of 20.56%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.35 earnings per share. equities research analysts forecast that State Street Corp will post 6.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd were paid a $0.42 dividend. The ex-dividend date was Friday, December 29th. This represents a $1.68 annualized dividend and a yield of 1.56%. State Street’s dividend payout ratio is 29.07%.
In other news, Chairman Joseph L. Hooley sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $92.60, for a total transaction of $2,315,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Hannah M. Grove sold 3,200 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $92.64, for a total value of $296,448.00. The disclosure for this sale can be found here. Insiders sold 28,724 shares of company stock worth $2,659,741 in the last 90 days. Corporate insiders own 0.71% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another website, it was copied illegally and reposted in violation of US and international trademark and copyright legislation. The original version of this piece of content can be read at https://www.watchlistnews.com/arvest-bank-trust-division-sells-5719-shares-of-state-street-corp-stt/1818321.html.
State Street Company Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
Want to see what other hedge funds are holding STT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for State Street Corp (NYSE:STT).
Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.