State Street Corporation (NYSE:STT) Holdings Trimmed by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in shares of State Street Corporation (NYSE:STT - Free Report) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 229,651 shares of the asset manager's stock after selling 11,543 shares during the quarter. Envestnet Asset Management Inc. owned about 0.08% of State Street worth $20,561,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of STT. Sequoia Financial Advisors LLC lifted its stake in shares of State Street by 2.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,414 shares of the asset manager's stock valued at $395,000 after purchasing an additional 118 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in State Street by 13.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,157 shares of the asset manager's stock worth $104,000 after buying an additional 134 shares during the period. Huntington National Bank raised its stake in shares of State Street by 1.3% in the 4th quarter. Huntington National Bank now owns 11,671 shares of the asset manager's stock valued at $1,146,000 after acquiring an additional 150 shares during the period. UMB Bank n.a. lifted its holdings in shares of State Street by 8.4% during the 1st quarter. UMB Bank n.a. now owns 2,272 shares of the asset manager's stock valued at $203,000 after acquiring an additional 176 shares in the last quarter. Finally, Invst LLC increased its holdings in State Street by 1.8% in the 4th quarter. Invst LLC now owns 11,582 shares of the asset manager's stock valued at $1,137,000 after purchasing an additional 206 shares in the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the company's stock in a transaction dated 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 transaction, the chief accounting officer owned 7,354 shares in the company, valued at approximately $667,154.88. This represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company's stock.

State Street Stock Performance

Shares of State Street stock traded up $1.02 during trading hours on Friday, reaching $108.50. The company's stock had a trading volume of 2,912,739 shares, compared to its average volume of 2,113,710. State Street Corporation has a one year low of $72.81 and a one year high of $110.97. The company's 50 day simple moving average is $101.02 and its 200 day simple moving average is $95.17. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market cap of $30.94 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 1.21 and a beta of 1.45.

State Street (NYSE:STT - Get Free Report) 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 firm had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.33 billion. State Street had a net margin of 12.59% and a return on equity of 12.96%. State Street's revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company posted $2.15 earnings per share. As a group, analysts expect that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Wednesday, October 1st will be given a $0.84 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This is a positive change from State Street's previous quarterly dividend of $0.76. This represents a $3.36 annualized dividend and a yield of 3.10%. State Street's dividend payout ratio (DPR) is currently 34.04%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on STT shares. Keefe, Bruyette & Woods reduced their price objective on State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Barclays dropped their price objective 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. Wells Fargo & Company raised their price target on shares of State Street from $113.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Cfra Research upgraded shares of State Street from a "hold" rating to a "moderate buy" rating in a report on Tuesday. Finally, The Goldman Sachs Group upped their price objective on shares of State Street from $98.00 to $111.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $112.00.

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.