Lbp Am Sa Decreases Position in State Street Corporation (NYSE:STT)

LBP AM SA decreased its holdings in shares of State Street Corporation (NYSE:STT - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,373 shares of the asset manager's stock after selling 3,069 shares during the period. LBP AM SA's holdings in State Street were worth $6,300,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in STT. Norges Bank purchased a new position in State Street during the 4th quarter worth $161,021,000. Price T Rowe Associates Inc. MD increased its holdings in State Street by 236.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,309,130 shares of the asset manager's stock worth $226,642,000 after acquiring an additional 1,622,408 shares during the period. FMR LLC raised its position in shares of State Street by 14.2% in the fourth quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock worth $685,441,000 after buying an additional 870,849 shares in the last quarter. Azora Capital LP bought a new stake in shares of State Street during the 4th quarter valued at about $80,294,000. Finally, Northern Trust Corp grew its stake in State Street by 15.7% in the 4th quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager's stock worth $407,166,000 after buying an additional 563,790 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

State Street Trading Up 0.7%

State Street stock traded up $0.80 during mid-day trading on Thursday, reaching $110.20. 1,828,556 shares of the company traded hands, compared to its average volume of 2,108,443. The firm's 50 day moving average price is $99.05 and its 200 day moving average price is $94.82. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $110.97. 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 firm has a market capitalization of $31.43 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 1.27 and a beta of 1.45.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, topping the consensus estimate of $1.98 by $0.06. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates 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 posted $1.69 earnings per share. On average, analysts anticipate that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently disclosed 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. This represents a $3.04 annualized dividend and a yield of 2.76%. The ex-dividend date is Tuesday, July 1st. State Street's dividend payout ratio is currently 34.12%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on STT shares. Evercore ISI raised their price target on State Street from $102.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company raised their price target on State Street from $113.00 to $121.00 and gave the company an "overweight" rating in a research report on Tuesday. Bank of America increased their price target on shares of State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research report on Wednesday, April 2nd. Citigroup lifted their price target on shares of State Street from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Cfra Research cut shares of State Street from a "moderate buy" rating to a "hold" rating in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $109.92.

Insider Activity at State Street

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the transaction, the chief accounting officer directly owned 7,354 shares in the company, valued at $667,154.88. This trade represents a 15.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.29% of the company's stock.

State Street Company 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.