Rafferty Asset Management LLC Sells 2,787 Shares of State Street Co. (NYSE:STT)

Rafferty Asset Management LLC lowered its holdings in State Street Co. (NYSE:STTFree Report) by 2.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 109,392 shares of the asset manager’s stock after selling 2,787 shares during the quarter. Rafferty Asset Management LLC’s holdings in State Street were worth $8,474,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of STT. Oppenheimer & Co. Inc. lifted its position in State Street by 9.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,284 shares of the asset manager’s stock valued at $421,000 after acquiring an additional 545 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of State Street during the 3rd quarter valued at about $3,914,000. Amalgamated Bank grew its stake in shares of State Street by 0.4% in the third quarter. Amalgamated Bank now owns 90,782 shares of the asset manager’s stock worth $6,079,000 after acquiring an additional 352 shares during the period. Banque Cantonale Vaudoise grew its position in State Street by 54.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 10,839 shares of the asset manager’s stock worth $726,000 after purchasing an additional 3,841 shares during the period. Finally, Spire Wealth Management raised its stake in State Street by 244.6% during the 3rd quarter. Spire Wealth Management now owns 1,706 shares of the asset manager’s stock valued at $114,000 after buying an additional 1,211 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Trading Down 0.2 %

STT stock opened at $74.48 on Thursday. The company has a market capitalization of $22.44 billion, a PE ratio of 13.95, a P/E/G ratio of 1.28 and a beta of 1.47. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.61. State Street Co. has a 12 month low of $62.78 and a 12 month high of $79.90. The firm’s 50-day moving average is $75.24 and its 200 day moving average is $74.58.

State Street (NYSE:STTGet Free Report) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.21. State Street had a return on equity of 12.03% and a net margin of 9.62%. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.06 billion. On average, research analysts anticipate that State Street Co. will post 7.95 EPS for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Monday, July 1st will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Monday, July 1st. State Street’s dividend payout ratio (DPR) is currently 51.69%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on STT shares. UBS Group lifted their price target on shares of State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Evercore ISI increased their target price on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Argus boosted their price target on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 15th. JPMorgan Chase & Co. increased their price objective on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th. Finally, Morgan Stanley boosted their target price on shares of State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, State Street has a consensus rating of “Hold” and an average target price of $84.04.

Get Our Latest Stock Report on State Street

State Street Profile

(Free Report)

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, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

Featured Articles

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

Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.