Lbp Am Sa Sells 12,025 Shares of State Street Corporation $STT

Lbp Am Sa cut its stake in shares of State Street Corporation (NYSE:STT) by 17.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,348 shares of the asset manager’s stock after selling 12,025 shares during the quarter. Lbp Am Sa’s holdings in State Street were worth $6,205,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Invesco Ltd. lifted its holdings in shares of State Street by 9.0% during the first quarter. Invesco Ltd. now owns 8,184,690 shares of the asset manager’s stock valued at $732,775,000 after acquiring an additional 674,120 shares during the period. Northern Trust Corp lifted its holdings in shares of State Street by 2.8% during the first quarter. Northern Trust Corp now owns 4,264,161 shares of the asset manager’s stock valued at $381,770,000 after acquiring an additional 115,751 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of State Street by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,068,867 shares of the asset manager’s stock valued at $274,732,000 after acquiring an additional 14,011 shares during the period. Eastern Bank lifted its holdings in shares of State Street by 6,967.4% during the first quarter. Eastern Bank now owns 2,989,452 shares of the asset manager’s stock valued at $267,646,000 after acquiring an additional 2,947,153 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of State Street by 1.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,713,415 shares of the asset manager’s stock valued at $242,932,000 after acquiring an additional 49,353 shares during the period. 87.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on STT shares. Citigroup raised State Street from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $115.00 to $130.00 in a report on Friday, September 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $162.00 price target on shares of State Street in a report on Monday. TD Cowen began coverage on State Street in a report on Thursday, September 25th. They issued a “buy” rating for the company. Wells Fargo & Company lifted their price target on State Street from $113.00 to $121.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Finally, Cfra Research raised State Street from a “hold” rating to a “moderate buy” rating in a report on Tuesday, July 15th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, State Street currently has an average rating of “Moderate Buy” and an average price target of $121.27.

Insiders Place Their Bets

In other State Street news, EVP Michael L. Richards sold 990 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.29, for a total transaction of $108,197.10. Following the completion of the sale, the executive vice president directly owned 41,332 shares of the company’s stock, valued at approximately $4,517,174.28. The trade was a 2.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

State Street Stock Performance

Shares of NYSE:STT opened at $113.43 on Thursday. The stock has a market capitalization of $32.18 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.13 and a beta of 1.46. State Street Corporation has a 1-year low of $72.81 and a 1-year high of $118.06. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $112.68 and a two-hundred day moving average price of $101.00.

State Street (NYSE:STT) last announced its quarterly earnings data on Tuesday, July 15th. The asset manager reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.17. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.33 billion. State Street had a return on equity of 12.96% and a net margin of 12.59%.The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.15 EPS. Equities analysts predict that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $3.36 annualized dividend and a yield of 3.0%. This is an increase from State Street’s previous quarterly dividend of $0.76. State Street’s dividend payout ratio (DPR) is presently 34.04%.

About State Street

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.