State Street Corporation $STT Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC decreased its holdings in State Street Corporation (NYSE:STT) by 1.5% in the 4th quarter, Holdings Channel reports. The firm owned 288,252 shares of the asset manager’s stock after selling 4,274 shares during the period. Natixis Advisors LLC’s holdings in State Street were worth $37,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Regents of The University of California purchased a new position in State Street during the 3rd quarter worth $324,576,000. Norges Bank purchased a new stake in shares of State Street in the fourth quarter valued at about $303,483,000. Two Sigma Investments LP raised its holdings in shares of State Street by 261.0% in the third quarter. Two Sigma Investments LP now owns 1,217,802 shares of the asset manager’s stock valued at $141,277,000 after buying an additional 880,507 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of State Street by 36.8% during the third quarter. First Trust Advisors LP now owns 2,747,646 shares of the asset manager’s stock worth $318,754,000 after buying an additional 738,456 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of State Street during the third quarter worth about $62,092,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Trading Down 1.0%

NYSE STT opened at $158.19 on Thursday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $43.78 billion, a P/E ratio of 16.04, a P/E/G ratio of 0.87 and a beta of 1.43. State Street Corporation has a 52-week low of $95.61 and a 52-week high of $161.79. The firm has a 50-day moving average price of $145.54 and a 200 day moving average price of $133.15.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.20. State Street had a return on equity of 14.22% and a net margin of 13.47%.The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the previous year, the company earned $2.04 EPS. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. Equities research analysts expect that State Street Corporation will post 12.35 EPS for the current year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be paid a $0.84 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.1%. State Street’s payout ratio is 34.08%.

Insider Transactions at State Street

In other State Street news, EVP Michael L. Richards sold 3,000 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the sale, the executive vice president owned 43,522 shares of the company’s stock, valued at approximately $6,697,600.58. This trade represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP W. Bradford Hu sold 9,212 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total transaction of $1,431,084.20. Following the sale, the executive vice president owned 59,552 shares in the company, valued at $9,251,403.20. The trade was a 13.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 52,476 shares of company stock valued at $7,624,925. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on STT shares. Morgan Stanley boosted their price target on State Street from $155.00 to $166.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Wells Fargo & Company increased their price objective on State Street from $162.00 to $171.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada lifted their target price on State Street from $135.00 to $155.00 and gave the company a “sector perform” rating in a research note on Monday, April 20th. Barclays set a $165.00 target price on State Street in a report on Monday, April 20th. Finally, Keefe, Bruyette & Woods increased their price target on State Street from $157.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $158.57.

About State Street

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.