Guggenheim Capital LLC lessened its position in State Street Corp (NYSE:STT) by 2.4% in the 4th quarter, HoldingsChannel reports. The fund owned 418,350 shares of the asset manager’s stock after selling 10,072 shares during the period. Guggenheim Capital LLC’s holdings in State Street were worth $40,835,000 at the end of the most recent quarter.
Other large 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 valued at $100,000 after acquiring an additional 795 shares in the last quarter. NuWave Investment Management LLC purchased a new stake in shares of State Street in the 4th quarter valued at approximately $107,000. Legacy Advisors LLC lifted its position in shares of State Street by 835.8% in the 4th quarter. Legacy Advisors LLC now owns 1,151 shares of the asset manager’s stock valued at $112,000 after acquiring an additional 1,028 shares in the last quarter. Delpha Capital Management LLC purchased a new stake in shares of State Street in the 4th quarter valued at approximately $113,000. Finally, Focused Wealth Management Inc purchased a new stake in shares of State Street in the 4th quarter valued at approximately $117,000. Institutional investors and hedge funds own 88.38% of the company’s stock.
In related news, EVP George E. Sullivan sold 3,495 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 58,340 shares in the company, valued at approximately $6,013,103.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph L. Hooley sold 33,568 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $102.65, for a total transaction of $3,445,755.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,531 shares of company stock worth $5,146,169. 0.71% of the stock is currently owned by company insiders.
State Street stock opened at $106.87 on Monday. State Street Corp has a 12 month low of $75.27 and a 12 month high of $114.27. The company has a market cap of $39,291.10, a price-to-earnings ratio of 16.65, a PEG ratio of 1.39 and a beta of 1.29. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.49 and a current ratio of 0.49.
State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, January 23rd. The asset manager reported $1.61 EPS 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 last year, the company earned $1.48 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. research analysts forecast that State Street Corp will post 7.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.68 annualized dividend and a dividend yield of 1.57%. State Street’s dividend payout ratio (DPR) is 32.12%.
Several equities research analysts recently commented on the stock. Morgan Stanley upped their price target on shares of State Street from $114.00 to $117.00 and gave the company an “equal weight” rating in a research report on Friday, February 2nd. ValuEngine upgraded shares of State Street from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded shares of State Street from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a research note on Thursday, January 25th. Keefe, Bruyette & Woods set a $120.00 price objective on shares of State Street and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, Bank of America upped their price objective on shares of State Street from $108.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. State Street presently has an average rating of “Buy” and an average price target of $108.33.
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State Street Company Profile
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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