State Street Corporation $STT Shares Sold by Newport Trust Company LLC

Newport Trust Company LLC cut its holdings in State Street Corporation (NYSE:STT) by 3.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,459,282 shares of the asset manager’s stock after selling 46,406 shares during the quarter. Newport Trust Company LLC’s holdings in State Street were worth $188,262,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Global Retirement Partners LLC boosted its position in shares of State Street by 476.7% in the 4th quarter. Global Retirement Partners LLC now owns 8,478 shares of the asset manager’s stock worth $1,094,000 after buying an additional 7,008 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of State Street in the 4th quarter worth about $334,000. ABN Amro Investment Solutions boosted its position in shares of State Street by 17.8% in the 4th quarter. ABN Amro Investment Solutions now owns 42,562 shares of the asset manager’s stock worth $5,491,000 after buying an additional 6,419 shares in the last quarter. IFP Advisors Inc boosted its position in shares of State Street by 48.4% in the 4th quarter. IFP Advisors Inc now owns 1,226 shares of the asset manager’s stock worth $158,000 after buying an additional 400 shares in the last quarter. Finally, Banque Cantonale Vaudoise boosted its position in shares of State Street by 9.7% in the 4th quarter. Banque Cantonale Vaudoise now owns 17,286 shares of the asset manager’s stock worth $2,230,000 after buying an additional 1,530 shares in the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on STT shares. Keefe, Bruyette & Woods boosted their price objective on shares of State Street from $157.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Evercore set a $158.00 price objective on shares of State Street and gave the stock an “outperform” rating in a research report on Monday, April 20th. Citigroup boosted their price objective on shares of State Street from $150.00 to $172.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Weiss Ratings restated a “buy (b)” rating on shares of State Street in a report on Monday, April 20th. Finally, The Goldman Sachs Group upped their target price on shares of State Street from $152.00 to $168.00 and gave the company a “buy” rating in a report on Monday, April 20th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $155.77.

Insider Activity

In other news, EVP John Plansky sold 16,100 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the completion of the transaction, the executive vice president owned 56,162 shares of the company’s stock, valued at $6,982,059.84. This represents a 22.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael L. Richards sold 3,000 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the transaction, the executive vice president directly owned 43,522 shares of the company’s stock, valued at approximately $6,697,600.58. This represents a 6.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 28,711 shares of company stock valued at $3,933,032 in the last 90 days. 0.27% of the stock is currently owned by insiders.

State Street Trading Down 0.3%

NYSE STT opened at $153.55 on Friday. State Street Corporation has a 12 month low of $94.19 and a 12 month high of $156.18. The company has a 50-day moving average of $139.21 and a 200-day moving average of $130.67. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market cap of $42.50 billion, a P/E ratio of 15.57, a P/E/G ratio of 0.84 and a beta of 1.45.

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

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.2%. State Street’s dividend payout ratio is currently 34.08%.

About State Street

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.