State Street Corporation (NYSE:STT) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of State Street Corporation (NYSE:STT - Free Report) by 25.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,340 shares of the asset manager's stock after selling 21,132 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in State Street were worth $5,405,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Sequoia Financial Advisors LLC boosted its position in 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 buying an additional 118 shares during the period. Moors & Cabot Inc. boosted its holdings in shares of State Street by 0.7% in the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock valued at $1,799,000 after purchasing an additional 131 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of State Street by 13.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,157 shares of the asset manager's stock valued at $104,000 after purchasing an additional 134 shares during the period. Huntington National Bank grew its stake in State Street by 1.3% in the fourth quarter. Huntington National Bank now owns 11,671 shares of the asset manager's stock worth $1,146,000 after purchasing an additional 150 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in State Street by 8.4% during the 1st quarter. UMB Bank n.a. now owns 2,272 shares of the asset manager's stock worth $203,000 after purchasing an additional 176 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Stock Performance

Shares of NYSE STT traded up $2.55 during mid-day trading on Wednesday, hitting $109.51. The stock had a trading volume of 1,973,530 shares, compared to its average volume of 2,108,079. The firm has a market cap of $31.23 billion, a PE ratio of 12.29, a PEG ratio of 1.24 and a beta of 1.45. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.57 and a current ratio of 0.57. The company has a 50 day moving average of $96.38 and a two-hundred day moving average of $94.29. State Street Corporation has a twelve month low of $72.65 and a twelve month high of $109.93.

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 firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. State Street had a return on equity of 12.79% and a net margin of 12.85%. During the same quarter in the previous year, the company posted $1.69 earnings per share. Research analysts predict that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared 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 2.78%. The ex-dividend date of this dividend is Tuesday, July 1st. State Street's dividend payout ratio is currently 34.12%.

Insider Activity

In related news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction that occurred on Tuesday, May 6th. The stock was 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 directly owned 7,354 shares in the company, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of research reports. Evercore ISI upped their price objective on shares of State Street from $102.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday. Citigroup upped their price target on shares of State Street from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Wednesday. The Goldman Sachs Group lifted their price objective on shares of State Street from $98.00 to $111.00 and gave the company a "buy" rating in a report on Wednesday. Wall Street Zen downgraded shares of State Street from a "buy" rating to a "hold" rating in a research note 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 on the stock in a report on Monday, April 21st. 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 company. According to MarketBeat.com, State Street currently has an average rating of "Hold" and an average target price of $105.69.

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.