Vontobel Holding Ltd. Sells 6,587 Shares of State Street Corporation (NYSE:STT)

Vontobel Holding Ltd. reduced its position in shares of State Street Corporation (NYSE:STT - Free Report) by 24.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,629 shares of the asset manager's stock after selling 6,587 shares during the period. Vontobel Holding Ltd.'s holdings in State Street were worth $1,847,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. First Pacific Financial bought a new stake in State Street in the 1st quarter valued at approximately $25,000. Coppell Advisory Solutions LLC lifted its position in shares of State Street by 2,942.9% in the fourth 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 holdings in State Street by 186.7% during the first 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 during the last quarter. MV Capital Management Inc. grew its position in State Street by 98.4% in the first quarter. MV Capital Management Inc. now owns 506 shares of the asset manager's stock valued at $45,000 after purchasing an additional 251 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after buying an additional 311 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 sale, the chief accounting officer directly owned 7,354 shares of the company's stock, valued at approximately $667,154.88. This represents a 15.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.

State Street Stock Performance

Shares of STT traded up $0.82 during midday trading on Friday, reaching $110.31. 1,166,677 shares of the stock were exchanged, compared to its average volume of 2,111,077. The stock's 50 day simple moving average is $97.77 and its 200 day simple moving average is $94.54. The company has a market cap of $31.46 billion, a P/E ratio of 12.38, a PEG ratio of 1.28 and a beta of 1.45. State Street Corporation has a twelve month low of $72.65 and a twelve month high of $110.80. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.07.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the firm posted $1.69 EPS. On average, sell-side analysts expect that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Cfra Research downgraded shares of State Street from a "moderate buy" rating to a "hold" rating in a research note on Thursday, May 29th. Evercore ISI increased 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. Morgan Stanley boosted their price target on State Street from $110.00 to $114.00 and gave the stock an "overweight" rating in a research report on Tuesday. Citigroup increased their price objective on State Street from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Barclays lowered their target price 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 equities 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $106.46.

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.