Securian Asset Management Inc. lessened its position in State Street Corporation (NYSE:STT – Free Report) by 44.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,595 shares of the asset manager’s stock after selling 6,082 shares during the quarter. Securian Asset Management Inc.’s holdings in State Street were worth $980,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STT. Chicago Partners Investment Group LLC raised its stake in State Street by 1.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 5,351 shares of the asset manager’s stock valued at $675,000 after purchasing an additional 83 shares during the period. Wedmont Private Capital boosted its position in shares of State Street by 1.3% in the fourth quarter. Wedmont Private Capital now owns 6,498 shares of the asset manager’s stock worth $861,000 after buying an additional 85 shares during the period. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of State Street by 38.2% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock valued at $39,000 after buying an additional 94 shares in the last quarter. LVW Advisors LLC grew its holdings in shares of State Street by 1.7% during the fourth quarter. LVW Advisors LLC now owns 5,605 shares of the asset manager’s stock valued at $723,000 after buying an additional 96 shares in the last quarter. Finally, Security National Bank of SO Dak raised its position in State Street by 0.5% during the second quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock valued at $2,289,000 after buying an additional 105 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.
State Street Stock Up 0.8%
STT opened at $151.60 on Thursday. The company has a market capitalization of $41.96 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.57. State Street Corporation has a fifty-two week low of $94.19 and a fifty-two week high of $156.18. The business has a 50-day moving average of $135.69 and a 200-day moving average of $129.13.
State Street Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Wednesday, April 1st were paid a dividend of $0.84 per share. The ex-dividend date was Wednesday, April 1st. This represents a $3.36 annualized dividend and a dividend yield of 2.2%. State Street’s dividend payout ratio is 34.08%.
Analyst Upgrades and Downgrades
STT has been the subject of a number of research reports. Evercore set a $158.00 price objective on State Street and gave the stock an “outperform” rating in a research report on Monday, April 20th. Weiss Ratings reissued a “buy (b)” rating on shares of State Street in a research report on Monday, April 20th. Keefe, Bruyette & Woods boosted their price objective on shares of State Street from $157.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Argus upped their price objective on shares of State Street from $140.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Seaport Research Partners reiterated a “buy” rating and issued a $170.00 target price on shares of State Street in a research report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, State Street presently has a consensus rating of “Moderate Buy” and an average price target of $155.77.
View Our Latest Research Report on STT
Insider Activity
In other news, EVP Michael L. Richards sold 3,000 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the transaction, the executive vice president owned 43,522 shares in the company, valued at approximately $6,697,600.58. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 owned 64,642 shares of the company’s stock, valued at $9,885,701.06. This represents a 12.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 28,711 shares of company stock worth $3,933,032. 0.27% of the stock is owned by corporate insiders.
State Street 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.
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