Madison Asset Management LLC decreased its position in shares of State Street Corporation (NYSE:STT – Free Report) by 47.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,576 shares of the asset manager’s stock after selling 5,108 shares during the quarter. Madison Asset Management LLC’s holdings in State Street were worth $706,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC increased its holdings in State Street by 1.6% in the 4th quarter. Chicago Partners Investment Group LLC now owns 5,351 shares of the asset manager’s stock worth $675,000 after buying an additional 83 shares during the period. Arjuna Capital lifted its stake in State Street by 0.4% during the 4th quarter. Arjuna Capital now owns 25,139 shares of the asset manager’s stock valued at $3,243,000 after acquiring an additional 95 shares during the period. LVW Advisors LLC boosted its holdings in shares of State Street by 1.7% in the 4th quarter. LVW Advisors LLC now owns 5,605 shares of the asset manager’s stock valued at $723,000 after acquiring an additional 96 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of State Street by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 32,024 shares of the asset manager’s stock valued at $4,053,000 after acquiring an additional 100 shares during the last quarter. Finally, Security National Bank of SO Dak increased its stake in shares of State Street by 0.5% in the second quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock worth $2,289,000 after acquiring an additional 105 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.
Insider Transactions at State Street
In other State Street news, CEO Hanley Ronald P. O sold 14,553 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total transaction of $2,260,808.55. Following the transaction, the chief executive officer owned 255,512 shares in the company, valued at approximately $39,693,789.20. This represents a 5.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Bradford Hu sold 9,212 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total value of $1,431,084.20. Following the completion of the sale, the executive vice president directly owned 59,552 shares in the company, valued at approximately $9,251,403.20. The trade was a 13.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,265 shares of company stock valued at $3,935,103 in the last ninety days. 0.27% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Report on STT
State Street Price Performance
NYSE:STT opened at $185.26 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.59 and a quick ratio of 0.57. The company has a 50 day moving average price of $167.80 and a 200-day moving average price of $145.33. State Street Corporation has a 1-year low of $104.64 and a 1-year high of $192.51. The firm has a market cap of $51.27 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 0.77 and a beta of 1.42.
State Street (NYSE:STT – Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The asset manager reported $3.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.34 by $0.31. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.88 billion. State Street had a net margin of 15.02% and a return on equity of 15.26%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.04 earnings per share. Equities research analysts forecast that State Street Corporation will post 13.44 EPS for the current year.
State Street Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Thursday, October 1st will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, October 1st. This is an increase from State Street’s previous quarterly dividend of $0.84. State Street’s dividend payout ratio is currently 29.63%.
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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