State Street Corporation (NYSE:STT) Position Lessened by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. decreased its stake in State Street Corporation (NYSE:STT) by 11.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,293 shares of the asset manager’s stock after selling 286 shares during the period. Stratos Wealth Partners LTD.’s holdings in State Street were worth $205,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. First Pacific Financial bought a new stake in shares of State Street in the 1st quarter worth approximately $25,000. Coppell Advisory Solutions LLC lifted its holdings in shares of State Street by 2,942.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock worth $42,000 after purchasing an additional 412 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of State Street by 186.7% in the 1st quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager’s stock worth $43,000 after purchasing an additional 310 shares during the last quarter. MV Capital Management Inc. lifted its holdings in shares of State Street by 98.4% in the 1st quarter. MV Capital Management Inc. now owns 506 shares of the asset manager’s stock worth $45,000 after purchasing an additional 251 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after purchasing an additional 311 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

STT has been the topic of several recent analyst reports. Citigroup lifted their target price on State Street from $100.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods cut their target price on State Street from $118.00 to $113.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Evercore ISI lifted their target price on State Street from $102.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Barclays cut their target price on State Street from $127.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Finally, Bank of America lifted their target price on State Street from $106.00 to $109.00 and gave the company an “underperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and an average price target of $110.25.

State Street Stock Up 3.0%

Shares of STT stock opened at $105.03 on Thursday. State Street Corporation has a 1 year low of $72.81 and a 1 year high of $110.97. The stock has a market cap of $29.95 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.18 and a beta of 1.45. The business’s fifty day moving average is $100.75 and its 200-day moving average is $95.11. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.57 and a current ratio of 0.57.

State Street (NYSE:STT) last issued its quarterly earnings results on Tuesday, July 15th. The asset manager reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.17. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.33 billion. State Street had a return on equity of 13.08% and a net margin of 12.59%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $2.15 EPS. Equities analysts expect that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Wednesday, October 1st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.20%. This is a boost from State Street’s previous quarterly dividend of $0.76. State Street’s payout ratio is presently 34.04%.

Insider Activity

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the sale, the chief accounting officer owned 7,354 shares of the company’s stock, valued at $667,154.88. This trade represents a 15.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is owned by insiders.

State Street Profile

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.