Jupiter Asset Management Ltd. Has $50.83 Million Stock Holdings in State Street Corporation $STT

Jupiter Asset Management Ltd. trimmed its stake in shares of State Street Corporation (NYSE:STT) by 26.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 393,959 shares of the asset manager’s stock after selling 141,269 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in State Street were worth $50,825,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STT. Brighton Jones LLC acquired a new position in State Street in the 4th quarter valued at approximately $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in State Street by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock valued at $2,885,000 after acquiring an additional 918 shares during the period. NewEdge Advisors LLC increased its position in State Street by 105.2% in the 1st quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock valued at $913,000 after acquiring an additional 5,226 shares during the period. Empowered Funds LLC increased its position in State Street by 220.1% in the 1st quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock valued at $2,065,000 after acquiring an additional 15,996 shares during the period. Finally, Woodline Partners LP increased its position in State Street by 38.4% in the 1st quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock valued at $2,182,000 after acquiring an additional 6,767 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at State Street

In other State Street news, EVP John Plansky sold 16,100 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total value of $2,001,552.00. Following the transaction, the executive vice president directly owned 56,162 shares of the company’s stock, valued at approximately $6,982,059.84. This trade represents a 22.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael L. Richards sold 3,000 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the transaction, the executive vice president directly owned 43,522 shares in the company, valued at $6,697,600.58. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 52,476 shares of company stock valued at $7,624,925. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

STT has been the subject of several recent research reports. Wells Fargo & Company upped their price target on shares of State Street from $162.00 to $171.00 and gave the company an “overweight” rating in a research report on Tuesday. Royal Bank Of Canada upped their price target on shares of State Street from $135.00 to $155.00 and gave the company a “sector perform” rating in a research report on Monday, April 20th. Citigroup boosted their price target 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. Zacks Research upgraded shares of State Street from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Finally, Argus increased their price objective on shares of State Street from $140.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, State Street has an average rating of “Moderate Buy” and an average price target of $158.57.

Trending Headlines about State Street

Here are the key news stories impacting State Street this week:

• Positive Sentiment: State Street Investment Management announced a change to its ETF lineup, including the planned closure and liquidation of the State Street DoubleLine Emerging Markets Fixed Income ETF (EMTL). This reflects an active review of the firm’s product set and could help management focus resources on higher-priority offerings. State Street Investment Management Announces Change to ETF Lineup
• Neutral Sentiment: State Street presented at the Bernstein 42nd Annual Strategic Decisions Conference, which may have given investors an updated look at strategy and outlook, but no major new financial details were included in the headline. State Street Corporation (STT) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript
• Negative Sentiment: CEO Ronald P. Hanley sold 14,553 shares and EVP W. Bradford Hu sold 9,212 shares in pre-arranged Rule 10b5-1 transactions. While these were planned sales, insider selling can still weigh on investor sentiment. CEO stock sale SEC filing EVP stock sale SEC filing

State Street Stock Down 0.0%

Shares of NYSE STT opened at $157.87 on Friday. The firm has a market cap of $43.69 billion, a PE ratio of 16.01, a P/E/G ratio of 0.86 and a beta of 1.45. State Street Corporation has a 12-month low of $94.72 and a 12-month high of $159.31. The company’s fifty day simple moving average is $142.61 and its 200 day simple moving average is $132.06. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last issued its earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.20. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.59 billion. State Street had a net margin of 13.47% and a return on equity of 14.22%. State Street’s revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.04 earnings per share. As a group, sell-side analysts forecast that State Street Corporation will post 12.35 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis 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 34.08%.

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.