Brown Advisory Inc. reduced its position in shares of State Street Corp (NYSE:STT) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 164,729 shares of the asset manager’s stock after selling 20,537 shares during the period. Brown Advisory Inc.’s holdings in State Street were worth $10,389,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in STT. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in State Street by 71.6% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 14,507 shares of the asset manager’s stock worth $914,000 after acquiring an additional 6,054 shares in the last quarter. Stifel Financial Corp raised its stake in State Street by 3.7% during the 4th quarter. Stifel Financial Corp now owns 178,528 shares of the asset manager’s stock worth $11,296,000 after acquiring an additional 6,345 shares in the last quarter. Berman Capital Advisors LLC acquired a new stake in State Street during the 4th quarter worth $84,000. Dimensional Fund Advisors LP raised its stake in State Street by 14.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,628,598 shares of the asset manager’s stock worth $102,738,000 after acquiring an additional 201,989 shares in the last quarter. Finally, United Services Automobile Association raised its stake in State Street by 16.5% during the 4th quarter. United Services Automobile Association now owns 772,417 shares of the asset manager’s stock worth $48,716,000 after acquiring an additional 109,140 shares in the last quarter. 86.78% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have commented on the stock. Deutsche Bank lowered shares of State Street from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research upgraded shares of State Street from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine lowered shares of State Street from a “sell” rating to a “strong sell” rating in a research note on Friday, March 1st. Keefe, Bruyette & Woods lowered shares of State Street from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $72.00 to $70.00 in a research note on Sunday, February 24th. Finally, Credit Suisse Group dropped their price objective on shares of State Street from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $87.24.
In related news, EVP Andrew P. Kuritzkes sold 7,689 shares of the business’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $69.97, for a total transaction of $537,999.33. Following the sale, the executive vice president now owns 25,978 shares of the company’s stock, valued at $1,817,680.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew Erickson sold 861 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $69.45, for a total transaction of $59,796.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,389 shares of company stock worth $5,300,338. Insiders own 0.40% of the company’s stock.
Shares of NYSE:STT opened at $70.29 on Friday. The stock has a market capitalization of $26.48 billion, a PE ratio of 9.74, a PEG ratio of 1.16 and a beta of 1.39. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. State Street Corp has a fifty-two week low of $57.87 and a fifty-two week high of $108.41.
State Street (NYSE:STT) last issued its earnings results on Friday, January 18th. The asset manager reported $1.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.01. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.96 billion. State Street had a net margin of 20.05% and a return on equity of 14.44%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 earnings per share. On average, equities analysts predict that State Street Corp will post 6.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, March 29th. State Street’s payout ratio is 26.04%.
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State Street 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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