US Bancorp DE trimmed its position in State Street Corp (NYSE:STT) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,789 shares of the asset manager’s stock after selling 4,080 shares during the quarter. US Bancorp DE owned 0.06% of State Street worth $21,298,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Trust Co. of Vermont raised its stake in shares of State Street by 15.8% in the 2nd quarter. Trust Co. of Vermont now owns 4,252 shares of the asset manager’s stock worth $396,000 after buying an additional 580 shares in the last quarter. FDx Advisors Inc. grew its holdings in shares of State Street by 2.9% during the first quarter. FDx Advisors Inc. now owns 20,444 shares of the asset manager’s stock valued at $2,039,000 after buying an additional 582 shares in the last quarter. Alpine Woods Capital Investors LLC grew its holdings in shares of State Street by 2.8% during the first quarter. Alpine Woods Capital Investors LLC now owns 22,000 shares of the asset manager’s stock valued at $2,194,000 after buying an additional 600 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of State Street by 1.7% during the second quarter. Commonwealth Equity Services LLC now owns 35,179 shares of the asset manager’s stock valued at $3,275,000 after buying an additional 604 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in State Street by 17.8% in the second quarter. IFP Advisors Inc now owns 4,200 shares of the asset manager’s stock valued at $391,000 after purchasing an additional 635 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

In related news, insider Jeff D. Conway sold 343 shares of the business’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $83.16, for a total value of $28,523.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph L. Hooley sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $83.01, for a total transaction of $2,075,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,954 shares of company stock valued at $2,237,777. Company insiders own 0.40% of the company’s stock.

Several analysts have recently issued reports on STT shares. Deutsche Bank decreased their price target on State Street from $102.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. Wells Fargo & Co set a $105.00 price target on State Street and gave the company a “buy” rating in a report on Thursday, August 16th. Zacks Investment Research raised State Street from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a report on Wednesday, May 30th. Morgan Stanley decreased their price target on State Street from $113.00 to $109.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 24th. Finally, Barclays decreased their price objective on State Street from $120.00 to $110.00 and set a “$87.02” rating on the stock in a research report on Monday, July 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $105.71.

State Street stock traded up $0.89 during midday trading on Friday, reaching $87.29. 2,301,961 shares of the company’s stock were exchanged, compared to its average volume of 1,948,650. State Street Corp has a 52 week low of $82.43 and a 52 week high of $114.27. The stock has a market capitalization of $31.66 billion, a P/E ratio of 12.00, a PEG ratio of 1.04 and a beta of 1.19. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.52 and a current ratio of 0.52.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, July 20th. The asset manager reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.13). State Street had a net margin of 19.56% and a return on equity of 14.98%. The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the firm posted $1.67 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. research analysts forecast that State Street Corp will post 7.66 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be given a dividend of $0.47 per share. This is an increase from State Street’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Friday, September 28th. State Street’s payout ratio is currently 28.19%.

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; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

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

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