D.A. Davidson & CO. Trims Stake in State Street Corporation (NYSE:STT)

D.A. Davidson & CO. reduced its position in State Street Corporation (NYSE:STT - Free Report) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,634 shares of the asset manager's stock after selling 2,337 shares during the quarter. D.A. Davidson & CO.'s holdings in State Street were worth $11,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. First Pacific Financial bought a new stake in State Street during the first quarter valued at about $25,000. Coppell Advisory Solutions LLC boosted its holdings in shares of State Street by 2,942.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock valued at $42,000 after purchasing an additional 412 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of State Street by 186.7% during the first quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager's stock valued at $43,000 after purchasing an additional 310 shares in the last quarter. MV Capital Management Inc. increased its holdings in shares of State Street by 98.4% in the first quarter. MV Capital Management Inc. now owns 506 shares of the asset manager's stock worth $45,000 after purchasing an additional 251 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in shares of State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after purchasing an additional 311 shares during the last quarter. Institutional investors own 87.44% of the company's stock.

State Street Stock Up 0.7%

State Street stock traded up $0.82 during midday trading on Friday, reaching $110.31. The company's stock had a trading volume of 1,166,677 shares, compared to its average volume of 2,111,077. State Street Corporation has a 52-week low of $72.65 and a 52-week high of $110.80. The stock has a market capitalization of $31.46 billion, a P/E ratio of 12.38, a PEG ratio of 1.27 and a beta of 1.45. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.57 and a quick ratio of 0.57. The stock's 50-day simple moving average is $97.31 and its 200-day simple moving average is $94.46.

State Street (NYSE:STT - Get Free Report) last released its earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.06. The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.30 billion. State Street had a net margin of 12.85% and a return on equity of 12.79%. During the same period last year, the business earned $1.69 EPS. On average, sell-side analysts expect that State Street Corporation will post 9.68 EPS for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a yield of 2.76%. State Street's dividend payout ratio is currently 34.12%.

Insiders Place Their Bets

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the sale, the chief accounting officer directly owned 7,354 shares in the company, valued at approximately $667,154.88. The trade was a 15.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.29% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on STT shares. Wall Street Zen cut State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Keefe, Bruyette & Woods cut their price objective on shares of State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Barclays reduced their target price on shares of State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. The Goldman Sachs Group boosted their target price on State Street from $98.00 to $111.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Morgan Stanley boosted their target price on shares of State Street from $110.00 to $114.00 and gave the company an "overweight" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, State Street currently has an average rating of "Hold" and a consensus target price of $106.46.

State Street Profile

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.