5,445 Shares in State Street Corporation (NYSE:STT) Bought by Stonegate Investment Group LLC

Stonegate Investment Group LLC purchased a new position in State Street Corporation (NYSE:STT) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 5,445 shares of the asset manager’s stock, valued at approximately $487,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Invesco Ltd. increased its holdings in State Street by 5.7% in the 4th quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager’s stock worth $737,162,000 after acquiring an additional 406,396 shares in the last quarter. Geode Capital Management LLC increased its holdings in State Street by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager’s stock worth $704,238,000 after acquiring an additional 24,617 shares in the last quarter. FMR LLC increased its holdings in State Street by 14.2% in the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager’s stock worth $685,441,000 after acquiring an additional 870,849 shares in the last quarter. Amundi increased its holdings in State Street by 11.1% in the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock worth $547,636,000 after acquiring an additional 561,773 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in State Street by 15.7% in the 4th quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager’s stock worth $407,166,000 after acquiring an additional 563,790 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the transaction, the chief accounting officer now owns 7,354 shares of the company’s stock, valued at $667,154.88. This represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.

State Street Trading Up 0.3%

Shares of STT opened at $99.62 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.07. State Street Corporation has a 12-month low of $71.96 and a 12-month high of $103.00. The firm has a 50-day moving average price of $93.09 and a 200 day moving average price of $94.04. The firm has a market capitalization of $28.41 billion, a P/E ratio of 11.18, a P/E/G ratio of 1.16 and a beta of 1.44.

State Street (NYSE:STT) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.06. State Street had a net margin of 12.85% and a return on equity of 12.79%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same quarter in the prior year, the firm posted $1.69 earnings per share. Sell-side analysts forecast that State Street Corporation will post 9.68 EPS for the current year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be given a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.05%. State Street’s payout ratio is currently 34.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Citigroup dropped their target price on shares of State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Keefe, Bruyette & Woods dropped their target price on shares of State Street from $118.00 to $113.00 and set an “outperform” rating for the company in a report on Monday, April 21st. Wells Fargo & Company dropped their target price on shares of State Street from $118.00 to $113.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Finally, Barclays dropped their target price on shares of State Street from $127.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, State Street presently has an average rating of “Hold” and an average price target of $102.54.

State Street Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.