Sanctuary Advisors LLC Has $2.38 Million Stock Holdings in State Street Corporation $STT

Sanctuary Advisors LLC raised its position in State Street Corporation (NYSE:STT) by 40.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,472 shares of the asset manager’s stock after buying an additional 5,348 shares during the quarter. Sanctuary Advisors LLC’s holdings in State Street were worth $2,383,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new position in State Street in the 3rd quarter valued at $29,000. True Wealth Design LLC grew its holdings in State Street by 166.3% in the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after buying an additional 158 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in State Street in the 4th quarter valued at $39,000. Flagship Wealth Advisors LLC acquired a new position in State Street in the 3rd quarter valued at $35,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in State Street in the 3rd quarter valued at $35,000. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Stock Performance

NYSE:STT opened at $152.12 on Friday. The stock has a fifty day moving average price of $132.73 and a 200-day moving average price of $127.27. The company has a market cap of $42.10 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 0.83 and a beta of 1.45. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.57. State Street Corporation has a fifty-two week low of $89.19 and a fifty-two week high of $156.18.

State Street (NYSE:STT) last released its earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.20. State Street had a return on equity of 14.22% and a net margin of 13.47%.The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the company posted $2.04 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. As a group, equities analysts anticipate that State Street Corporation will post 12.31 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Investors of record on Wednesday, April 1st were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Wednesday, April 1st. State Street’s dividend payout ratio is currently 34.08%.

Insider Buying and Selling

In related news, COO Mostapha Tahiri sold 9,611 shares of the company’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $152.93, for a total transaction of $1,469,810.23. Following the completion of the sale, the chief operating officer directly owned 64,642 shares in the company, valued at $9,885,701.06. This represents a 12.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael L. Richards sold 3,000 shares of the company’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the sale, the executive vice president owned 43,522 shares of the company’s stock, valued at approximately $6,697,600.58. This represents a 6.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 28,711 shares of company stock worth $3,933,032 in the last ninety days. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

STT has been the topic of a number of research reports. Morgan Stanley upped their price objective on State Street from $155.00 to $166.00 and gave the company an “overweight” rating in a report on Monday, April 20th. The Goldman Sachs Group upped their target price on State Street from $152.00 to $168.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Wall Street Zen upgraded State Street from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a research report on Monday, April 20th. Finally, Royal Bank Of Canada upped their target price on State Street from $135.00 to $155.00 and gave the company a “sector perform” rating in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $154.00.

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.