Consilium Wealth Advisory LLC lessened its holdings in State Street Co. (NYSE:STT - Free Report) by 24.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 8,313 shares of the asset manager's stock after selling 2,763 shares during the period. Consilium Wealth Advisory LLC's holdings in State Street were worth $744,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in State Street by 3.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager's stock worth $44,725,000 after buying an additional 14,476 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in State Street by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager's stock worth $184,025,000 after buying an additional 10,404 shares in the last quarter. Bank of Montreal Can grew its position in shares of State Street by 54.6% during the fourth quarter. Bank of Montreal Can now owns 720,909 shares of the asset manager's stock valued at $70,757,000 after purchasing an additional 254,510 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of State Street during the fourth quarter valued at about $44,070,000. Finally, Deutsche Bank AG grew its position in shares of State Street by 2.9% during the fourth quarter. Deutsche Bank AG now owns 1,736,708 shares of the asset manager's stock valued at $170,458,000 after purchasing an additional 48,464 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.
State Street Stock Up 1.3%
Shares of NYSE:STT opened at $97.37 on Tuesday. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The business has a 50 day simple moving average of $91.66 and a two-hundred day simple moving average of $93.99. The firm has a market capitalization of $27.77 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56.
State Street (NYSE:STT - Get Free Report) last announced its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same quarter in the previous year, the business earned $1.69 earnings per share. On average, equities analysts predict that State Street Co. will post 9.68 EPS for the current year.
State Street Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.12%. State Street's dividend payout ratio (DPR) is presently 34.12%.
Analyst Upgrades and Downgrades
STT has been the subject of a number of research analyst reports. Bank of America raised their price objective on State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research report on Wednesday, April 2nd. The Goldman Sachs Group set a $98.00 price objective on State Street and gave the company a "buy" rating in a research report on Thursday, April 17th. Cfra Research lowered State Street from a "moderate buy" rating to a "hold" rating in a research report on Thursday, May 29th. Wall Street Zen downgraded shares of State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Finally, Barclays lowered their price target on shares of State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, State Street currently has an average rating of "Hold" and a consensus price target of $102.54.
Get Our Latest Analysis on STT
Insider Buying and Selling at State Street
In related news, CAO Elizabeth Schaefer sold 1,300 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the sale, the chief accounting officer now owns 7,354 shares in the company, valued at approximately $667,154.88. The trade was a 15.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company's stock.
State Street Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding STT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for State Street Co. (NYSE:STT - Free Report).
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