Wealthstreet Investment Advisors LLC purchased a new stake in State Street Corp (NYSE:STT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,500 shares of the asset manager’s stock, valued at approximately $244,000.
A number of other institutional investors also recently added to or reduced their stakes in STT. Zions Bancorporation grew its position in shares of State Street by 318.0% during 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 in the last quarter. Legacy Advisors LLC grew its position in shares of State Street by 835.8% during the 4th quarter. Legacy Advisors LLC now owns 1,151 shares of the asset manager’s stock worth $112,000 after purchasing an additional 1,028 shares in the last quarter. BB&T Corp acquired a new position in shares of State Street during the 4th quarter worth approximately $203,000. Sabal Trust CO acquired a new position in shares of State Street during the 3rd quarter worth approximately $201,000. Finally, Tiemann Investment Advisors LLC acquired a new position in shares of State Street during the 3rd quarter worth approximately $204,000. 87.56% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on STT shares. Zacks Investment Research upgraded shares of State Street from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a research report on Thursday, January 25th. Morgan Stanley increased their target price on shares of State Street from $114.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. 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. Barclays increased their target price on shares of State Street from $104.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Finally, ValuEngine lowered shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $106.69.
In other State Street news, EVP George E. Sullivan sold 3,495 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $103.07, for a total value of $360,229.65. Following the sale, the executive vice president now owns 58,340 shares in the company, valued at $6,013,103.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeff D. Conway sold 747 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $103.07, for a total transaction of $76,993.29. The disclosure for this sale can be found here. Insiders sold 37,810 shares of company stock worth $3,882,978 in the last 90 days. Company insiders own 0.71% of the company’s stock.
Shares of State Street Corp (NYSE:STT) traded up $1.78 during trading on Friday, reaching $104.50. 904,102 shares of the company’s stock were exchanged, compared to its average volume of 1,649,893. State Street Corp has a 1 year low of $75.27 and a 1 year high of $114.27. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.49 and a quick ratio of 0.48. The firm has a market capitalization of $37,765.01, a price-to-earnings ratio of 19.98, a P/E/G ratio of 1.67 and a beta of 1.31.
State Street (NYSE:STT) last issued its earnings results on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.10). State Street had a net margin of 17.94% and a return on equity of 13.41%. The company had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the business earned $1.48 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. research analysts expect that State Street Corp will post 7.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be given a $0.42 dividend. The ex-dividend date is Thursday, March 29th. This represents a $1.68 dividend on an annualized basis and a yield of 1.61%. State Street’s dividend payout ratio is currently 32.12%.
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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.
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