Oakbrook Investments LLC Has $2.11 Million Holdings in State Street Corp (STT)

Oakbrook Investments LLC reduced its stake in State Street Corp (NYSE:STT) by 16.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,640 shares of the asset manager’s stock after selling 4,260 shares during the quarter. Oakbrook Investments LLC’s holdings in State Street were worth $2,112,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in STT. Zions Bancorporation grew its stake in shares of State Street by 318.0% in the 3rd quarter. Zions Bancorporation now owns 1,045 shares of the asset manager’s stock valued at $100,000 after purchasing an additional 795 shares during the last quarter. Sabal Trust CO purchased a new position in shares of State Street in the 3rd quarter valued at approximately $201,000. Trustmark National Bank Trust Department purchased a new position in shares of State Street in the 3rd quarter valued at approximately $204,000. Tiemann Investment Advisors LLC purchased a new position in shares of State Street in the 3rd quarter valued at approximately $204,000. Finally, KLCM Advisors Inc. purchased a new position in shares of State Street in the 2nd quarter valued at approximately $205,000. Institutional investors own 88.14% of the company’s stock.

Several research analysts have weighed in on the company. Royal Bank of Canada lowered their target price on State Street from $104.00 to $95.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $114.00 target price on shares of State Street in a research note on Friday, December 22nd. Zacks Investment Research downgraded State Street from a “buy” rating to a “hold” rating and set a $109.00 target price on the stock. in a research note on Friday, January 5th. Barclays lifted their target price on State Street from $104.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Vining Sparks reiterated a “buy” rating and issued a $120.00 target price on shares of State Street in a research note on Monday, January 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. State Street presently has an average rating of “Buy” and a consensus price target of $101.13.

In related news, insider Hannah M. Grove sold 3,200 shares of State Street stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $92.64, for a total transaction of $296,448.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Joseph L. Hooley sold 25,000 shares of State Street stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $92.60, for a total value of $2,315,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,724 shares of company stock valued at $2,659,741. 0.71% of the stock is currently owned by insiders.

State Street Corp (STT) opened at $105.05 on Friday. The stock has a market capitalization of $39,457.03, a price-to-earnings ratio of 18.21, a P/E/G ratio of 1.38 and a beta of 1.36. State Street Corp has a 1-year low of $74.45 and a 1-year high of $108.50. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.61.

State Street (NYSE:STT) last issued its quarterly earnings data on Monday, October 23rd. The asset manager reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.10. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. State Street had a return on equity of 13.03% and a net margin of 20.56%. State Street’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.35 earnings per share. analysts predict that State Street Corp will post 6.27 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 17th. Investors of record on Tuesday, January 2nd were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, December 29th. This represents a $1.68 annualized dividend and a yield of 1.60%. State Street’s dividend payout ratio is presently 29.12%.

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About State Street

State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.

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

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