Columbus Macro LLC Has $2.12 Million Stake in State Street Co. (NYSE:STT)

Columbus Macro LLC decreased its holdings in State Street Co. (NYSE:STT) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,619 shares of the asset manager’s stock after selling 390 shares during the period. Columbus Macro LLC’s holdings in State Street were worth $2,115,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of State Street by 3.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager’s stock valued at $44,725,000 after purchasing an additional 14,476 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in State Street by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager’s stock worth $184,025,000 after buying an additional 10,404 shares during the last quarter. Bank of Montreal Can raised its position in State Street by 54.6% during the fourth quarter. Bank of Montreal Can now owns 720,909 shares of the asset manager’s stock valued at $70,757,000 after acquiring an additional 254,510 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in State Street in the fourth quarter valued at approximately $44,070,000. Finally, Deutsche Bank AG increased its stake in shares of State Street by 2.9% during the 4th quarter. Deutsche Bank AG now owns 1,736,708 shares of the asset manager’s stock worth $170,458,000 after purchasing an additional 48,464 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

STT has been the topic of several analyst reports. Cfra Research lowered shares of State Street from a “moderate buy” rating to a “hold” rating in a research note on Thursday, May 29th. Barclays dropped their price target on shares of State Street from $127.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Bank of America increased their price target on shares of State Street from $98.00 to $99.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 2nd. Wells Fargo & Company dropped their price target on shares of State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Finally, Morgan Stanley set a $110.00 price target on shares of State Street and gave the stock an “overweight” rating in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $102.54.

State Street Price Performance

Shares of State Street stock opened at $96.05 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The firm has a fifty day moving average price of $91.21 and a two-hundred day moving average price of $93.99. The company has a market cap of $27.39 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.11 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 12.14% and a return on equity of 12.60%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.30 billion. During the same quarter in the prior year, the company posted $1.69 EPS. Analysts expect that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Tuesday, July 1st. State Street’s dividend payout ratio is 34.12%.

Insider Activity

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the transaction, the chief accounting officer now owns 7,354 shares in the company, valued at approximately $667,154.88. This represents a 15.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

State Street Company 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.