Atria Investments LLC Buys 1,141 Shares of State Street Corp (STT)
Atria Investments LLC increased its stake in shares of State Street Corp (NYSE:STT) by 11.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,507 shares of the asset manager’s stock after acquiring an additional 1,141 shares during the quarter. Atria Investments LLC’s holdings in State Street were worth $1,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Zions Bancorporation grew its position in shares of State Street by 318.0% in the 3rd quarter. Zions Bancorporation now owns 1,045 shares of the asset manager’s stock worth $100,000 after buying an additional 795 shares during the last quarter. Sabal Trust CO bought a new stake in shares of State Street in the 3rd quarter worth approximately $201,000. Trustmark National Bank Trust Department bought a new stake in shares of State Street in the 3rd quarter worth approximately $204,000. Tiemann Investment Advisors LLC bought a new stake in shares of State Street in the 3rd quarter worth approximately $204,000. Finally, KLCM Advisors Inc. bought a new stake in shares of State Street in the 2nd quarter worth approximately $205,000. Institutional investors and hedge funds own 88.14% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada cut their price objective on State Street from $104.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $114.00 price objective on shares of State Street in a research report on Friday, December 22nd. Zacks Investment Research lowered State Street from a “buy” rating to a “hold” rating and set a $109.00 price objective on the stock. in a research report on Friday, January 5th. Barclays lifted their price objective on State Street from $104.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Vining Sparks reiterated a “buy” rating and issued a $120.00 price objective on shares of State Street in a research report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. State Street presently has a consensus rating of “Buy” and an average target price of $101.13.
In other State Street news, insider Andrew Erickson sold 354 shares of State Street stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $92.00, for a total transaction of $32,568.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hannah M. Grove sold 3,200 shares of State Street stock in a transaction on Thursday, November 2nd. The shares were 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. In the last 90 days, insiders sold 28,724 shares of company stock valued at $2,659,741. 0.71% of the stock is currently owned by company insiders.
State Street Corp (STT) opened at $107.61 on Friday. The company has a market capitalization of $38,956.40, a P/E ratio of 18.65, a PEG ratio of 1.36 and a beta of 1.36. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.48 and a quick ratio of 0.48. State Street Corp has a one year low of $74.45 and a one year high of $108.50.
State Street (NYSE:STT) last released its earnings results on Monday, October 23rd. The asset manager reported $1.71 EPS for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.10. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. State Street had a return on equity of 13.03% and a net margin of 20.56%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.35 EPS. analysts expect that State Street Corp will post 6.27 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Stockholders of record on Tuesday, January 2nd were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Friday, December 29th. State Street’s payout ratio is presently 29.12%.
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State Street 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.
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