State Street Corp (NYSE:STT) insider Jeff D. Conway sold 343 shares of State Street stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $83.16, for a total value of $28,523.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of STT traded up $0.75 during mid-day trading on Friday, reaching $84.96. 2,174,616 shares of the company were exchanged, compared to its average volume of 1,978,310. State Street Corp has a 52 week low of $82.43 and a 52 week high of $114.27. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market capitalization of $30.73 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 0.86 and a beta of 1.22.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, July 20th. The asset manager reported $1.88 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.01 by ($0.13). State Street had a return on equity of 14.98% and a net margin of 19.56%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the business earned $1.67 earnings per share. State Street’s revenue was up 7.7% compared to the same quarter last year. sell-side analysts anticipate that State Street Corp will post 7.65 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.21%. This is an increase from State Street’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, September 28th. State Street’s dividend payout ratio (DPR) is 28.19%.

STT has been the topic of a number of recent research reports. Zacks Investment Research lowered State Street from a “buy” rating to a “hold” rating in a research note on Monday, May 28th. Bank of America cut their price target on State Street from $104.00 to $97.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 25th. Sandler O’Neill reissued a “hold” rating on shares of State Street in a research note on Friday, July 13th. Deutsche Bank cut their price target on State Street from $116.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 29th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $91.00 price target on shares of State Street in a research note on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $105.29.

Several institutional investors and hedge funds have recently modified their holdings of STT. Lord Abbett & CO. LLC bought a new position in shares of State Street during the first quarter worth about $73,652,000. Robeco Institutional Asset Management B.V. increased its holdings in State Street by 371.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 845,363 shares of the asset manager’s stock worth $84,323,000 after purchasing an additional 666,148 shares in the last quarter. Old Mutual Global Investors UK Ltd. increased its holdings in State Street by 36.8% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 2,349,459 shares of the asset manager’s stock worth $234,311,000 after purchasing an additional 631,562 shares in the last quarter. Mackay Shields LLC bought a new stake in State Street in the first quarter worth approximately $29,761,000. Finally, Artisan Partners Limited Partnership increased its holdings in State Street by 5.8% in the first quarter. Artisan Partners Limited Partnership now owns 5,338,389 shares of the asset manager’s stock worth $532,398,000 after purchasing an additional 294,789 shares in the last quarter. Institutional investors own 87.48% of the company’s stock.

About State Street

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company 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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