Oakbrook Investments LLC Cuts Stake in State Street Corp (STT)
Oakbrook Investments LLC decreased its position in shares of State Street Corp (NYSE:STT) by 0.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 26,500 shares of the asset manager’s stock after selling 250 shares during the quarter. Oakbrook Investments LLC’s holdings in State Street were worth $1,744,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of STT. Pearl River Capital LLC bought a new position in shares of State Street during the 4th quarter worth $25,000. Certified Advisory Corp lifted its holdings in State Street by 125.0% during the 4th quarter. Certified Advisory Corp now owns 450 shares of the asset manager’s stock worth $28,000 after purchasing an additional 250 shares in the last quarter. Strategic Wealth Partners Ltd. lifted its holdings in State Street by 1,038.7% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 353 shares of the asset manager’s stock worth $30,000 after purchasing an additional 322 shares in the last quarter. Moody National Bank Trust Division lifted its holdings in State Street by 199.4% during the 4th quarter. Moody National Bank Trust Division now owns 470 shares of the asset manager’s stock worth $30,000 after purchasing an additional 313 shares in the last quarter. Finally, Magellan Asset Management Ltd lifted its holdings in State Street by 80.1% during the 4th quarter. Magellan Asset Management Ltd now owns 526 shares of the asset manager’s stock worth $33,000 after purchasing an additional 234 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.
In other State Street news, Director Joseph L. Hooley sold 25,000 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $70.63, for a total value of $1,765,750.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew Erickson sold 861 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $69.45, for a total value of $59,796.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,389 shares of company stock worth $5,300,338. Insiders own 0.40% of the company’s stock.
NYSE:STT opened at $69.96 on Friday. State Street Corp has a twelve month low of $57.87 and a twelve month high of $104.33. The stock has a market capitalization of $26.38 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 1.19 and a beta of 1.38. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53.
State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 18th. The asset manager reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.01. State Street had a return on equity of 14.44% and a net margin of 20.05%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter last year, the firm posted $1.61 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. As a group, research analysts expect that State Street Corp will post 6.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a $0.47 dividend. The ex-dividend date was Friday, March 29th. This represents a $1.88 annualized dividend and a dividend yield of 2.69%. State Street’s payout ratio is currently 26.04%.
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About State Street
State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
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