State Street Corporation $STT Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. reduced its position in shares of State Street Corporation (NYSE:STT) by 2.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,493 shares of the asset manager’s stock after selling 4,068 shares during the period. Asset Management One Co. Ltd.’s holdings in State Street were worth $15,951,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. DMKC Advisory Services LLC raised its stake in shares of State Street by 2.9% during the 3rd quarter. DMKC Advisory Services LLC now owns 23,734 shares of the asset manager’s stock worth $2,753,000 after buying an additional 662 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of State Street by 7.7% in the third quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock valued at $171,000 after buying an additional 105 shares in the last quarter. Verity & Verity LLC grew its holdings in State Street by 0.5% during the third quarter. Verity & Verity LLC now owns 269,037 shares of the asset manager’s stock worth $31,211,000 after acquiring an additional 1,268 shares during the period. PDS Planning Inc acquired a new position in State Street during the third quarter worth $206,000. Finally, SJS Investment Consulting Inc. raised its position in State Street by 2,142.9% in the third quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock worth $36,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Performance

NYSE STT opened at $134.28 on Wednesday. The business’s 50-day moving average price is $122.69 and its 200 day moving average price is $115.72. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.03. State Street Corporation has a twelve month low of $72.81 and a twelve month high of $134.67. The company has a market capitalization of $37.50 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 1.10 and a beta of 1.43.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, October 17th. The asset manager reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.21. State Street had a return on equity of 13.37% and a net margin of 13.14%.The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the previous year, the business earned $2.26 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, research analysts predict that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Friday, January 2nd will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.36 annualized dividend and a yield of 2.5%. State Street’s payout ratio is 35.56%.

Insider Transactions at State Street

In other State Street news, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $117.24, for a total value of $175,860.00. Following the transaction, the executive vice president owned 38,626 shares in the company, valued at $4,528,512.24. The trade was a 3.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

STT has been the topic of several research analyst reports. Loop Capital set a $144.00 target price on shares of State Street in a research report on Tuesday. Citigroup raised their price objective on shares of State Street from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, December 30th. Wall Street Zen downgraded shares of State Street from a “hold” rating to a “sell” rating in a report on Saturday. Keefe, Bruyette & Woods increased their target price on shares of State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Finally, TD Cowen began coverage on shares of State Street in a research report on Thursday, September 25th. They set a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.42.

State Street Company Profile

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.