Oregon Public Employees Retirement Fund lessened its stake in shares of State Street Corp (NYSE:STT) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,989 shares of the asset manager’s stock after selling 1,299 shares during the period. Oregon Public Employees Retirement Fund’s holdings in State Street were worth $2,632,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of STT. Parallel Advisors LLC increased its holdings in shares of State Street by 17.3% in the 4th quarter. Parallel Advisors LLC now owns 1,012 shares of the asset manager’s stock worth $63,000 after purchasing an additional 149 shares in the last quarter. Kaizen Advisory LLC boosted its stake in shares of State Street by 18.0% in the 4th quarter. Kaizen Advisory LLC now owns 1,044 shares of the asset manager’s stock worth $66,000 after buying an additional 159 shares during the last quarter. Strategic Wealth Partners Ltd. boosted its stake in shares of State Street by 45.6% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 514 shares of the asset manager’s stock worth $35,000 after buying an additional 161 shares during the last quarter. Anchor Capital Advisors LLC boosted its stake in shares of State Street by 2.0% in the 4th quarter. Anchor Capital Advisors LLC now owns 8,420 shares of the asset manager’s stock worth $531,000 after buying an additional 169 shares during the last quarter. Finally, Sowell Financial Services LLC boosted its stake in shares of State Street by 3.2% in the 4th quarter. Sowell Financial Services LLC now owns 5,514 shares of the asset manager’s stock worth $348,000 after buying an additional 172 shares during the last quarter. 88.47% of the stock is owned by institutional investors.
A number of research firms have recently issued reports on STT. Deutsche Bank downgraded State Street from a “buy” rating to a “hold” rating and set a $69.95 price target on the stock. in a research note on Thursday, March 14th. Zacks Investment Research downgraded State Street from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. Morgan Stanley lowered their target price on State Street from $88.00 to $84.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods downgraded State Street from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $72.00 to $70.00 in a research report on Sunday, February 24th. Finally, ValuEngine downgraded State Street from a “sell” rating to a “strong sell” rating in a research report on Friday, March 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $82.72.
In other State Street news, Director Gregory L. Summe bought 3,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average price of $64.50 per share, with a total value of $193,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hanley Ronald P. O sold 27,500 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $71.82, for a total value of $1,975,050.00. Following the transaction, the chief executive officer now directly owns 60,479 shares in the company, valued at approximately $4,343,601.78. The disclosure for this sale can be found here. Insiders have sold 65,972 shares of company stock worth $4,525,537 over the last three months. 0.40% of the stock is currently owned by insiders.
Shares of NYSE STT opened at $58.64 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.52. State Street Corp has a 1-year low of $57.87 and a 1-year high of $101.35. The company has a market cap of $22.20 billion, a price-to-earnings ratio of 8.12, a P/E/G ratio of 0.87 and a beta of 1.37.
State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.05. State Street had a return on equity of 13.44% and a net margin of 18.77%. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, analysts predict that State Street Corp will post 6.46 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Monday, July 1st will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, June 28th. This represents a $1.88 annualized dividend and a yield of 3.21%. State Street’s payout ratio is currently 26.04%.
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State Street Company Profile
State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
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