Commonwealth Equity Services LLC Sells 6,760 Shares of State Street Corporation $STT

Commonwealth Equity Services LLC decreased its holdings in State Street Corporation (NYSE:STT) by 6.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 97,378 shares of the asset manager’s stock after selling 6,760 shares during the period. Commonwealth Equity Services LLC’s holdings in State Street were worth $11,297,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Brighton Jones LLC bought a new position in State Street in the fourth quarter valued at about $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of State Street by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock valued at $2,885,000 after purchasing an additional 918 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of State Street by 105.2% during the 1st quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock valued at $913,000 after purchasing an additional 5,226 shares during the last quarter. Empowered Funds LLC increased its position in State Street by 220.1% during the 1st quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock worth $2,065,000 after purchasing an additional 15,996 shares in the last quarter. Finally, Woodline Partners LP lifted its stake in State Street by 38.4% in the 1st quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock valued at $2,182,000 after purchasing an additional 6,767 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

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

State Street Trading Down 0.3%

NYSE STT opened at $132.45 on Monday. The firm has a market capitalization of $36.99 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The business’s 50-day moving average price is $123.68 and its two-hundred day moving average price is $116.34. 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 12 month low of $72.81 and a 12 month high of $134.67.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, October 17th. The asset manager reported $2.78 EPS for the quarter, topping 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 company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same period in the previous year, the firm earned $2.26 earnings per share. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. On average, analysts expect that State Street Corporation will post 9.68 EPS for the current year.

State Street Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of State Street from $117.00 to $128.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. TD Cowen boosted their price objective on State Street from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Truist Financial reiterated a “hold” rating and issued a $138.00 target price (up from $131.00) on shares of State Street in a research report on Wednesday, January 7th. Wall Street Zen lowered State Street from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $168.00 price objective on shares of State Street in a research note on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $133.77.

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.