Integrated Advisors Network LLC cut its stake in State Street Corporation (NYSE:STT – Free Report) by 84.5% in the first quarter, Holdings Channel reports. The firm owned 3,439 shares of the asset manager’s stock after selling 18,749 shares during the period. Integrated Advisors Network LLC’s holdings in State Street were worth $435,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Collaborative Fund Advisors LLC acquired a new position in State Street during the 1st quarter valued at approximately $439,000. Kathmere Capital Management LLC raised its holdings in shares of State Street by 35.1% in the first quarter. Kathmere Capital Management LLC now owns 4,472 shares of the asset manager’s stock worth $566,000 after buying an additional 1,163 shares during the last quarter. DGS Capital Management LLC lifted its stake in shares of State Street by 25.3% during the first quarter. DGS Capital Management LLC now owns 16,611 shares of the asset manager’s stock worth $2,102,000 after buying an additional 3,356 shares during the period. Argus Investors Counsel Inc. acquired a new stake in shares of State Street during the first quarter worth $437,000. Finally, V Square Quantitative Management LLC grew its holdings in shares of State Street by 4.7% during the first quarter. V Square Quantitative Management LLC now owns 10,044 shares of the asset manager’s stock valued at $1,271,000 after buying an additional 455 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.
State Street Stock Performance
NYSE STT traded up $0.31 on Friday, reaching $180.47. 2,064,243 shares of the company’s stock traded hands, compared to its average volume of 2,455,754. The firm has a market cap of $49.95 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 0.93 and a beta of 1.42. The stock has a 50 day moving average price of $162.52 and a 200-day moving average price of $142.28. State Street Corporation has a fifty-two week low of $101.98 and a fifty-two week high of $183.32. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57.
State Street Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, July 1st. State Street’s dividend payout ratio (DPR) is currently 34.08%.
Insider Activity
In other news, EVP W. Bradford Hu sold 9,212 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total transaction of $1,431,084.20. Following the sale, the executive vice president directly owned 59,552 shares of the company’s stock, valued at $9,251,403.20. This represents a 13.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hanley Ronald P. O sold 14,553 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total value of $2,260,808.55. Following the sale, the chief executive officer owned 255,512 shares in the company, valued at $39,693,789.20. This trade represents a 5.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 37,876 shares of company stock worth $5,866,583 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.
Key Headlines Impacting State Street
Here are the key news stories impacting State Street this week:
- Positive Sentiment: State Street was upgraded to a Zacks Rank #2 (Buy), reflecting stronger earnings outlooks and improving sentiment heading into earnings. All You Need to Know About State Street (STT) Rating Upgrade to Buy
- Positive Sentiment: Keefe, Bruyette & Woods raised its price target on State Street to $195 from $175 and maintained an outperform rating, suggesting meaningful upside from recent levels. State Street (NYSE:STT) Given New $195.00 Price Target at Keefe, Bruyette & Woods
- Positive Sentiment: Analysts are revising expectations higher ahead of Q2 results, with consensus pointing to earnings growth and the possibility of a beat if State Street delivers on estimates. Top Wall Street Forecasters Revamp State Street Expectations Ahead Of Q2 Earnings
- Neutral Sentiment: State Street is expected to report quarterly earnings next week, and investors are focused on whether the company can confirm the improved outlook with actual results. State Street (STT) to Release Earnings on Thursday
- Neutral Sentiment: Coverage noting renewed analyst optimism and upgraded estimates may reinforce the bullish setup, but it does not add new company-specific fundamentals by itself. How Investors May Respond To State Street (STT) Renewed Analyst Optimism And Upgraded Earnings Estimates
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Bank of America upped their target price on State Street from $160.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday. UBS Group set a $176.00 price target on State Street in a research note on Friday, June 26th. Citigroup boosted their price target on State Street from $172.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Evercore set a $186.00 price objective on State Street and gave the company an “outperform” rating in a report on Monday. Finally, Royal Bank Of Canada raised their price objective on State Street from $135.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.91.
Get Our Latest Report on State Street
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.
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