State Street Corporation (NYSE:STT) Stock Position Decreased by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC has reduced its holdings in State Street Corporation by 15.7%, now owning approximately 203,874 shares, valued at $18.25 million.
• State Street's stock recently experienced a 2.9% decline, with a current price of $108.55 and a market capitalization of $30.96 billion.
• The company announced a quarterly dividend increase to $0.84 per share, representing an annual yield of 3.1%, to be paid on October 14th.

Natixis Advisors LLC reduced its stake in shares of State Street Corporation (NYSE:STT - Free Report) by 15.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 203,874 shares of the asset manager's stock after selling 37,843 shares during the quarter. Natixis Advisors LLC owned approximately 0.07% of State Street worth $18,253,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. First Pacific Financial bought a new stake in shares of State Street during the 1st quarter valued at $25,000. Larson Financial Group LLC boosted its stake in State Street by 40.8% in the 1st quarter. Larson Financial Group LLC now owns 407 shares of the asset manager's stock worth $36,000 after purchasing an additional 118 shares in the last quarter. Coppell Advisory Solutions LLC boosted its stake in State Street by 2,942.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock worth $42,000 after purchasing an additional 412 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in State Street by 186.7% in the 1st quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager's stock worth $43,000 after purchasing an additional 310 shares in the last quarter. Finally, MV Capital Management Inc. boosted 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 worth $45,000 after purchasing an additional 251 shares in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Price Performance

Shares of STT traded up $1.21 during trading hours on Monday, hitting $109.80. 1,171,344 shares of the stock were exchanged, compared to its average volume of 2,437,742. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.57 and a current ratio of 0.57. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $114.28. The company has a market cap of $31.15 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.21 and a beta of 1.48. The stock's 50-day moving average price is $104.38 and its two-hundred day moving average price is $96.26.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $2.53 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.17. The business had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.33 billion. State Street had a return on equity of 12.96% and a net margin of 12.59%. The company's revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.15 EPS. Research analysts expect that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Wednesday, October 1st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from State Street's previous quarterly dividend of $0.76. The ex-dividend date is Wednesday, October 1st. State Street's dividend payout ratio (DPR) is presently 34.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on STT shares. 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 note on Wednesday, July 2nd. The Goldman Sachs Group upped their price target on shares of State Street from $98.00 to $111.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Evercore ISI upped their price target on shares of State Street from $102.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Barclays dropped their price target 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. Finally, Morgan Stanley upped 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, July 1st. One research 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, State Street currently has an average rating of "Hold" and an average target price of $112.00.

Insider Buying and Selling

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 value of $117,936.00. Following the sale, the chief accounting officer directly owned 7,354 shares in the company, valued at $667,154.88. The trade was a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael L. Richards sold 990 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $109.29, for a total value of $108,197.10. Following the completion of the sale, the executive vice president owned 41,332 shares in the company, valued at $4,517,174.28. This represents a 2.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

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.