State Street Corporation $STT Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL trimmed its position in shares of State Street Corporation (NYSE:STT) by 7.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 495,790 shares of the asset manager’s stock after selling 38,154 shares during the period. Gamco Investors INC. ET AL’s holdings in State Street were worth $63,962,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on STT shares. Seaport Research Partners reissued a “buy” rating and set a $170.00 price objective on shares of State Street in a report on Monday, April 20th. Morgan Stanley raised their price objective on shares of State Street from $155.00 to $166.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Zacks Research raised shares of State Street from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Barclays set a $165.00 price objective on shares of State Street in a report on Monday, April 20th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of State Street from $157.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $155.77.

Insider Activity

In other news, EVP Michael L. Richards sold 3,000 shares of State Street stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the transaction, the executive vice president directly owned 43,522 shares of the company’s stock, valued at approximately $6,697,600.58. The trade was a 6.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John Plansky sold 16,100 shares of State Street 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 sale, the executive vice president owned 56,162 shares in the company, valued at approximately $6,982,059.84. This represents a 22.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 28,711 shares of company stock valued at $3,933,032. Company insiders own 0.27% of the company’s stock.

State Street Trading Up 0.0%

NYSE STT opened at $152.89 on Monday. State Street Corporation has a one year low of $94.19 and a one year high of $156.18. The company has a 50-day simple moving average of $136.77 and a 200-day simple moving average of $129.65. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market capitalization of $42.32 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 0.84 and a beta of 1.45.

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

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Wednesday, April 1st were issued a $0.84 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $3.36 annualized dividend and a dividend yield of 2.2%. State Street’s payout ratio is 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.