State Street Co. (NYSE:STT) Shares Sold by American International Group Inc.

American International Group Inc. lessened its position in State Street Co. (NYSE:STTFree Report) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,915 shares of the asset manager’s stock after selling 3,395 shares during the period. American International Group Inc.’s holdings in State Street were worth $6,268,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of STT. Syon Capital LLC grew its position in State Street by 3.7% in the 4th quarter. Syon Capital LLC now owns 4,735 shares of the asset manager’s stock valued at $367,000 after buying an additional 168 shares in the last quarter. Coldstream Capital Management Inc. grew its position in State Street by 4.3% in the 4th quarter. Coldstream Capital Management Inc. now owns 4,132 shares of the asset manager’s stock valued at $320,000 after buying an additional 170 shares in the last quarter. Cardinal Capital Management grew its position in State Street by 0.4% in the 4th quarter. Cardinal Capital Management now owns 48,917 shares of the asset manager’s stock valued at $3,822,000 after buying an additional 174 shares in the last quarter. Lido Advisors LLC grew its position in State Street by 1.6% in the 3rd quarter. Lido Advisors LLC now owns 11,298 shares of the asset manager’s stock valued at $756,000 after buying an additional 178 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in State Street by 92.5% in the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after buying an additional 184 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Price Performance

STT stock opened at $74.35 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.90. State Street Co. has a one year low of $62.78 and a one year high of $79.90. The firm has a market capitalization of $22.40 billion, a PE ratio of 13.92, a P/E/G ratio of 1.28 and a beta of 1.47. The firm has a 50-day moving average of $75.08 and a two-hundred day moving average of $74.72.

State Street (NYSE:STTGet Free Report) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.06 billion. On average, analysts forecast that State Street Co. will post 7.95 earnings per share for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Monday, July 1st will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Monday, July 1st. State Street’s dividend payout ratio is presently 51.69%.

Analysts Set New Price Targets

STT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Argus increased their target price on shares of State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Morgan Stanley raised their price objective on shares of State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. UBS Group raised their price objective on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, Evercore ISI raised their price objective on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, State Street presently has an average rating of “Hold” and a consensus target price of $84.04.

Read Our Latest Stock Analysis on State Street

About State Street

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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