Vontobel Holding Ltd. Sells 5,636 Shares of State Street Corporation $STT

Vontobel Holding Ltd. lowered its position in State Street Corporation (NYSE:STT) by 27.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,993 shares of the asset manager’s stock after selling 5,636 shares during the quarter. Vontobel Holding Ltd.’s holdings in State Street were worth $1,594,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. First Pacific Financial purchased a new stake in State Street during the first quarter worth $25,000. Capital Analysts LLC lifted its holdings in State Street by 3,914.3% during the first quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock worth $25,000 after buying an additional 274 shares during the period. Larson Financial Group LLC lifted its holdings in State Street by 40.8% during the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock worth $36,000 after buying an additional 118 shares during the period. Golden State Wealth Management LLC lifted its holdings in State Street by 186.7% during the first quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager’s stock worth $43,000 after buying an additional 310 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new stake in State Street during the first quarter worth $46,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

STT has been the subject of a number of analyst reports. The Goldman Sachs Group upped their target price on State Street from $109.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Morgan Stanley reiterated an “overweight” rating and set a $162.00 price objective on shares of State Street in a report on Monday, September 29th. Citigroup upgraded State Street from a “neutral” rating to a “buy” rating and increased their price objective for the company from $115.00 to $130.00 in a report on Friday, September 5th. Cfra Research upgraded State Street from a “hold” rating to a “moderate buy” rating in a report on Tuesday, July 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, State Street has an average rating of “Moderate Buy” and an average target price of $122.83.

State Street Stock Performance

Shares of STT stock opened at $111.03 on Friday. The firm has a market capitalization of $31.50 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.57 and a quick ratio of 0.57. The business has a fifty day moving average of $113.23 and a 200 day moving average of $102.29. State Street Corporation has a 1 year low of $72.81 and a 1 year high of $118.24.

State Street (NYSE:STT) last issued its earnings results on Tuesday, July 15th. The asset manager reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.17. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.33 billion. State Street had a return on equity of 12.96% and a net margin of 12.59%.The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $2.15 EPS. As a group, research analysts expect that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Wednesday, October 1st will be paid a $0.84 dividend. This is a positive change from State Street’s previous quarterly dividend of $0.76. The ex-dividend date is Wednesday, October 1st. This represents a $3.36 dividend on an annualized basis and a yield of 3.0%. State Street’s dividend payout ratio (DPR) is 37.63%.

Insider Transactions at State Street

In other State Street news, EVP Michael L. Richards sold 990 shares of the 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 sale, the executive vice president directly owned 41,332 shares of the company’s stock, valued at approximately $4,517,174.28. This trade represents a 2.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is owned by company insiders.

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.