Pacific Heights Asset Management LLC Acquires 5,000 Shares of State Street Corporation (NYSE:STT)

Pacific Heights Asset Management LLC boosted its position in State Street Corporation (NYSE:STT - Free Report) by 9.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,000 shares of the asset manager's stock after buying an additional 5,000 shares during the quarter. Pacific Heights Asset Management LLC's holdings in State Street were worth $5,372,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. First Pacific Financial acquired a new stake in shares of State Street in the first quarter valued at approximately $25,000. Coppell Advisory Solutions LLC grew its position in State Street by 2,942.9% in the fourth 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 in the last quarter. Golden State Wealth Management LLC grew its position in State Street by 186.7% in 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 stake in State Street by 98.4% in the 1st quarter. MV Capital Management Inc. now owns 506 shares of the asset manager's stock valued at $45,000 after buying an additional 251 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in shares of State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after buying an additional 311 shares during the last quarter. Institutional investors own 87.44% of the company's stock.

Insider Transactions at State Street

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction 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 transaction, the chief accounting officer owned 7,354 shares in the company, valued at $667,154.88. This trade represents a 15.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

STT has been the topic of a number of recent research reports. Bank of America lifted their target price on State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research report on Wednesday, April 2nd. Barclays lowered their price target on State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Wall Street Zen downgraded State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Evercore ISI raised their target price on shares of State Street from $102.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $106.46.

State Street Stock Performance

Shares of NYSE STT traded up $0.82 during mid-day trading on Friday, reaching $110.31. 1,166,677 shares of the company were exchanged, compared to its average volume of 2,111,077. The stock has a market capitalization of $31.46 billion, a P/E ratio of 12.38, a P/E/G ratio of 1.28 and a beta of 1.45. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.07. The company's 50-day simple moving average is $97.31 and its 200-day simple moving average is $94.46. State Street Corporation has a twelve month low of $72.65 and a twelve month high of $110.80.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.06. State Street had a net margin of 12.85% and a return on equity of 12.79%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same period last year, the business posted $1.69 earnings per share. As a group, research analysts predict that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

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

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.