State Street Corporation $STT Holdings Decreased by Intech Investment Management LLC

Intech Investment Management LLC decreased its holdings in shares of State Street Corporation (NYSE:STT) by 29.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,800 shares of the asset manager’s stock after selling 9,644 shares during the quarter. Intech Investment Management LLC’s holdings in State Street were worth $2,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Knights of Columbus Asset Advisors LLC acquired a new position in shares of State Street in the fourth quarter worth $560,000. AlphaQuest LLC increased its stake in shares of State Street by 293.2% in the fourth quarter. AlphaQuest LLC now owns 19,441 shares of the asset manager’s stock worth $2,508,000 after acquiring an additional 14,497 shares during the last quarter. Kestra Investment Management LLC increased its stake in shares of State Street by 13.9% in the fourth quarter. Kestra Investment Management LLC now owns 7,976 shares of the asset manager’s stock worth $1,029,000 after acquiring an additional 973 shares during the last quarter. Themes Management Co LLC acquired a new position in shares of State Street in the fourth quarter worth $965,000. Finally, Allied Investment Advisors LLC increased its stake in shares of State Street by 1.0% in the fourth quarter. Allied Investment Advisors LLC now owns 128,053 shares of the asset manager’s stock worth $16,520,000 after acquiring an additional 1,268 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on STT. Barclays set a $165.00 price target on shares of State Street in a research note on Monday, April 20th. The Goldman Sachs Group upped their price target on shares of State Street from $152.00 to $168.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Evercore set a $158.00 price target on shares of State Street and gave the stock an “outperform” rating in a research note on Monday, April 20th. Citigroup upped their price target on shares of State Street from $150.00 to $172.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada upped their price target on shares of State Street from $135.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Monday, April 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.57.

Insider Buying and Selling

In other news, COO Mostapha Tahiri sold 9,611 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $152.93, for a total value of $1,469,810.23. Following the sale, the chief operating officer directly owned 64,642 shares of the company’s stock, valued at approximately $9,885,701.06. This trade represents a 12.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael L. Richards sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the sale, the executive vice president directly owned 43,522 shares in the company, valued at approximately $6,697,600.58. This represents a 6.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 52,476 shares of company stock valued at $7,624,925 in the last quarter. Insiders own 0.27% of the company’s stock.

State Street Price Performance

Shares of NYSE:STT opened at $159.94 on Wednesday. State Street Corporation has a fifty-two week low of $95.28 and a fifty-two week high of $161.80. The business has a 50-day moving average of $144.07 and a two-hundred day moving average of $132.59. The stock has a market capitalization of $44.27 billion, a P/E ratio of 16.22, a P/E/G ratio of 0.87 and a beta of 1.43. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.57.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.20. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.59 billion. State Street had a return on equity of 14.22% and a net margin of 13.47%.The firm’s revenue was up 15.6% compared to the same quarter last year. During the same period last year, the business posted $2.04 earnings per share. On average, equities research analysts predict that State Street Corporation will post 12.35 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, July 1st. State Street’s dividend payout ratio (DPR) is currently 34.08%.

State Street 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.