State Street Co. (NYSE:STT) Shares Bought by Verity & Verity LLC

Verity & Verity LLC increased its stake in shares of State Street Co. (NYSE:STT - Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,213 shares of the asset manager's stock after purchasing an additional 5,632 shares during the quarter. State Street accounts for 2.0% of Verity & Verity LLC's holdings, making the stock its 14th largest holding. Verity & Verity LLC owned about 0.09% of State Street worth $23,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in State Street in the fourth quarter valued at approximately $161,021,000. Price T Rowe Associates Inc. MD raised its holdings in State Street by 236.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,309,130 shares of the asset manager's stock valued at $226,642,000 after acquiring an additional 1,622,408 shares in the last quarter. FMR LLC raised its holdings in State Street by 14.2% in the fourth quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock valued at $685,441,000 after acquiring an additional 870,849 shares in the last quarter. Azora Capital LP acquired a new stake in State Street in the fourth quarter valued at approximately $80,294,000. Finally, Northern Trust Corp raised its holdings in State Street by 15.7% in the fourth quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager's stock valued at $407,166,000 after acquiring an additional 563,790 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.

Analyst Ratings Changes

STT has been the subject of a number of recent analyst reports. Cfra Research downgraded State Street from a "moderate buy" rating to a "hold" rating in a report on Thursday, May 29th. Wall Street Zen downgraded State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Wells Fargo & Company decreased their price target on State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Keefe, Bruyette & Woods decreased their price target on State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Finally, The Goldman Sachs Group set a $98.00 price target on State Street and gave the stock a "buy" rating in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, State Street has an average rating of "Hold" and an average price target of $102.54.

Insider Activity at State Street

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the transaction, the chief accounting officer now owns 7,354 shares in the company, valued at $667,154.88. The trade was a 15.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

State Street Stock Performance

Shares of State Street stock traded down $1.55 on Friday, hitting $96.05. The stock had a trading volume of 1,483,732 shares, compared to its average volume of 2,106,945. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a market cap of $27.39 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 1.11 and a beta of 1.44. The company's 50 day moving average price is $91.21 and its 200 day moving average price is $94.03.

State Street (NYSE:STT - Get Free Report) last posted its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.06. The business 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 12.60% and a net margin of 12.14%. During the same period in the previous year, the business earned $1.69 EPS. On average, research analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.17%. The ex-dividend date is Tuesday, July 1st. State Street's dividend payout ratio (DPR) is presently 34.12%.

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.