First Trust Advisors LP Sells 10,014 Shares of State Street Co. (NYSE:STT)

First Trust Advisors LP cut its holdings in State Street Co. (NYSE:STTFree Report) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 316,014 shares of the asset manager’s stock after selling 10,014 shares during the period. First Trust Advisors LP owned approximately 0.10% of State Street worth $24,478,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. increased its holdings in shares of State Street by 0.3% during the 3rd quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock valued at $698,663,000 after acquiring an additional 29,190 shares during the last quarter. Northern Trust Corp grew its holdings in State Street by 4.1% during the third quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock valued at $309,677,000 after purchasing an additional 180,093 shares during the last quarter. LSV Asset Management raised its position in shares of State Street by 0.7% in the fourth quarter. LSV Asset Management now owns 3,658,731 shares of the asset manager’s stock valued at $283,405,000 after purchasing an additional 23,756 shares during the period. Metropolis Capital Ltd lifted its stake in shares of State Street by 18.4% in the fourth quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager’s stock worth $268,170,000 after buying an additional 537,431 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of State Street by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,597,783 shares of the asset manager’s stock worth $201,243,000 after buying an additional 79,746 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STT has been the topic of several recent analyst reports. UBS Group lifted their target price on shares of State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Evercore ISI boosted their price objective 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 raised their target price on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a report on Monday, April 15th. JPMorgan Chase & Co. upped their price target on State Street from $79.50 to $80.50 in a report on Friday, April 12th. Finally, Morgan Stanley raised their price objective on shares of State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.04.

Check Out Our Latest Stock Analysis on STT

State Street Trading Down 0.5 %

Shares of STT stock opened at $74.35 on Tuesday. The firm has a fifty day moving average of $75.08 and a 200-day moving average of $74.72. The stock has a market cap of $22.40 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 1.28 and a beta of 1.47. State Street Co. has a 52-week low of $62.78 and a 52-week high of $79.90. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.61 and a current ratio of 0.61.

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 the consensus estimate of $1.48 by $0.21. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.06 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. On average, equities research analysts forecast that State Street Co. will post 7.95 earnings per share for the current fiscal year.

State Street Dividend Announcement

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

State Street Company 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.

See Also

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

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