Addenda Capital Inc. lowered its position in State Street Corp (NYSE:STT) by 5.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 88,671 shares of the asset manager’s stock after selling 5,150 shares during the period. Addenda Capital Inc.’s holdings in State Street were worth $8,559,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zions Bancorporation lifted its position 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 worth $100,000 after purchasing an additional 795 shares during the period. Sabal Trust CO acquired a new position in shares of State Street in the 3rd quarter worth approximately $201,000. Tiemann Investment Advisors LLC acquired a new position in shares of State Street in the 3rd quarter worth approximately $204,000. Trustmark National Bank Trust Department acquired a new position in shares of State Street during the 3rd quarter valued at $204,000. Finally, Janney Capital Management LLC acquired a new position in shares of State Street during the 3rd quarter valued at $209,000. Hedge funds and other institutional investors own 88.18% of the company’s stock.
In other State Street news, insider Andrew Erickson sold 354 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $92.00, for a total transaction of $32,568.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.71% of the company’s stock.
State Street Corp (STT) traded down $2.85 on Friday, reaching $107.47. 2,500,000 shares of the company’s stock traded hands, compared to its average volume of 1,590,000. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.49. State Street Corp has a 1 year low of $75.27 and a 1 year high of $114.27. The firm has a market capitalization of $39,850.00, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 1.84 and a beta of 1.31.
State Street (NYSE:STT) last released its quarterly earnings data on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.10). State Street had a return on equity of 13.41% and a net margin of 17.94%. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the company posted $1.48 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. analysts forecast that State Street Corp will post 7.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders 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 1.56%. State Street’s payout ratio is 32.06%.
A number of research analysts recently issued reports on STT shares. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $114.00 target price on shares of State Street in a research report on Friday, December 22nd. Zacks Investment Research upgraded shares of State Street from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research report on Tuesday, November 14th. Vining Sparks reiterated a “buy” rating and set a $120.00 target price on shares of State Street in a research report on Monday, January 8th. Citigroup upgraded shares of State Street from a “neutral” rating to a “buy” rating and set a $102.00 target price on the stock in a research report on Wednesday, January 10th. Finally, Buckingham Research boosted their target price on shares of State Street from $124.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. State Street presently has a consensus rating of “Buy” and an average price target of $106.69.
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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.
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