Hudson Edge Investment Partners Inc. Sells 4,490 Shares of State Street Corporation $STT

Hudson Edge Investment Partners Inc. cut its holdings in shares of State Street Corporation (NYSE:STT) by 5.7% during the 3rd quarter, Holdings Channel reports. The firm owned 74,971 shares of the asset manager’s stock after selling 4,490 shares during the period. State Street makes up 1.4% of Hudson Edge Investment Partners Inc.’s holdings, making the stock its 8th largest holding. Hudson Edge Investment Partners Inc.’s holdings in State Street were worth $8,697,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC acquired a new position in State Street in the 4th quarter valued at $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of State Street by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock worth $2,885,000 after purchasing an additional 918 shares during the period. NewEdge Advisors LLC raised its stake in State Street by 105.2% in the first 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 in the last quarter. Empowered Funds LLC raised its stake in State Street by 220.1% in the first quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock valued at $2,065,000 after purchasing an additional 15,996 shares in the last quarter. Finally, Woodline Partners LP lifted its position in State Street by 38.4% during the first quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock worth $2,182,000 after purchasing an additional 6,767 shares during the period. 87.44% of the stock is currently owned by institutional investors.

Insider Activity at State Street

In related news, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $117.24, for a total value of $175,860.00. Following the sale, the executive vice president owned 38,626 shares of the company’s stock, valued at $4,528,512.24. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on STT shares. Evercore ISI raised their target price on shares of State Street from $117.00 to $128.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Keefe, Bruyette & Woods lifted their price objective on shares of State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. The Goldman Sachs Group restated a “buy” rating on shares of State Street in a research note on Tuesday, January 6th. Loop Capital set a $144.00 target price on State Street in a report on Tuesday, January 6th. Finally, Morgan Stanley decreased their price target on State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, State Street has a consensus rating of “Moderate Buy” and an average price target of $135.83.

State Street Stock Performance

Shares of STT stock opened at $126.92 on Thursday. The firm has a market capitalization of $35.45 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.11 and a beta of 1.43. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. The business’s 50-day moving average price is $125.67 and its 200-day moving average price is $117.55. State Street Corporation has a 12 month low of $72.81 and a 12 month high of $137.05.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.15. State Street had a net margin of 13.02% and a return on equity of 13.46%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the business earned $2.60 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. Equities research analysts forecast that State Street Corporation will post 9.68 EPS for the current year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 12th. Stockholders of record on Friday, January 2nd were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. State Street’s dividend payout ratio (DPR) is presently 35.71%.

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.