State Street Co. (NYSE:STT) Stock Holdings Cut by Symmetry Partners LLC

Symmetry Partners LLC cut its position in shares of State Street Co. (NYSE:STT) by 1.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 13,955 shares of the asset manager’s stock after selling 230 shares during the quarter. Symmetry Partners LLC’s holdings in State Street were worth $1,172,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in State Street by 187.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,499,168 shares of the asset manager’s stock worth $109,109,000 after acquiring an additional 977,592 shares during the period. Rothschild & Co. Asset Management US Inc. raised its holdings in shares of State Street by 81.8% in the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 1,186,376 shares of the asset manager’s stock worth $86,344,000 after purchasing an additional 533,695 shares in the last quarter. Sei Investments Co. raised its holdings in shares of State Street by 1.6% in the 4th quarter. Sei Investments Co. now owns 325,725 shares of the asset manager’s stock worth $23,735,000 after purchasing an additional 5,083 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in State Street by 2.1% during the first quarter. Janney Montgomery Scott LLC now owns 59,726 shares of the asset manager’s stock valued at $5,018,000 after purchasing an additional 1,226 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in State Street by 4.6% during the fourth quarter. Nordea Investment Management AB now owns 1,409,830 shares of the asset manager’s stock worth $102,607,000 after buying an additional 61,490 shares in the last quarter. 91.77% of the stock is currently owned by institutional investors.

In other news, EVP Andrew Erickson sold 11,000 shares of State Street stock in a transaction that occurred on Friday, February 26th. The stock was sold at an average price of $73.30, for a total transaction of $806,300.00. Following the sale, the executive vice president now owns 58,997 shares of the company’s stock, valued at approximately $4,324,480.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael L. Richards sold 365 shares of the stock in a transaction on Monday, March 1st. The shares were sold at an average price of $74.61, for a total transaction of $27,232.65. Following the completion of the transaction, the executive vice president now owns 24,420 shares of the company’s stock, valued at approximately $1,821,976.20. The disclosure for this sale can be found here. Insiders sold 11,898 shares of company stock worth $873,183 over the last quarter. 0.28% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently commented on STT shares. Morgan Stanley cut their price objective on State Street from $103.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, April 26th. Wells Fargo & Company boosted their price objective on State Street from $83.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, April 1st. Barclays boosted their price target on shares of State Street from $99.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, April 7th. Zacks Investment Research cut shares of State Street from a “buy” rating to a “hold” rating and set a $82.00 price objective on the stock. in a research report on Monday, January 18th. Finally, Credit Suisse Group increased their target price on State Street from $78.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, January 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $83.43.

Shares of State Street stock opened at $86.10 on Wednesday. State Street Co. has a 12-month low of $51.21 and a 12-month high of $89.28. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average price of $83.98 and a two-hundred day moving average price of $75.73. The stock has a market capitalization of $29.94 billion, a P/E ratio of 12.93, a PEG ratio of 1.11 and a beta of 1.60.

State Street (NYSE:STT) last posted its quarterly earnings data on Thursday, April 15th. The asset manager reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.12. State Street had a net margin of 20.75% and a return on equity of 12.24%. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the prior year, the firm earned $1.62 EPS. State Street’s quarterly revenue was down 3.8% compared to the same quarter last year. Sell-side analysts anticipate that State Street Co. will post 6.58 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st will be given a $28.125 dividend. This is an increase from State Street’s previous quarterly dividend of $0.52. This represents a $112.50 annualized dividend and a dividend yield of 130.66%. The ex-dividend date is Friday, May 28th. State Street’s dividend payout ratio (DPR) is currently 33.71%.

State Street Company Profile

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 accounting; daily pricing and administration; master trust and master custody; depotbank; 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.

Further Reading: Intrinsic Value and Stock Selection

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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