State Street Corporation $STT Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lowered its position in State Street Corporation (NYSE:STT) by 11.7% in the fourth quarter, Holdings Channel reports. The fund owned 1,008,099 shares of the asset manager’s stock after selling 133,162 shares during the period. State Street makes up approximately 2.1% of Ferguson Wellman Capital Management Inc.’s portfolio, making the stock its 13th biggest holding. Ferguson Wellman Capital Management Inc.’s holdings in State Street were worth $130,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STT. Invesco Ltd. increased its position in shares of State Street by 4.7% in the 2nd quarter. Invesco Ltd. now owns 8,566,237 shares of the asset manager’s stock valued at $910,934,000 after purchasing an additional 381,547 shares during the last quarter. Dodge & Cox lifted its position in shares of State Street by 1.1% during the 2nd quarter. Dodge & Cox now owns 7,412,414 shares of the asset manager’s stock worth $788,236,000 after purchasing an additional 80,855 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of State Street by 3.7% during the third quarter. Franklin Resources Inc. now owns 3,859,012 shares of the asset manager’s stock worth $447,684,000 after purchasing an additional 137,049 shares in the last quarter. Nordea Investment Management AB increased its holdings in State Street by 15.4% in the fourth quarter. Nordea Investment Management AB now owns 2,829,271 shares of the asset manager’s stock valued at $367,041,000 after buying an additional 377,568 shares during the last quarter. Finally, Regents of The University of California purchased a new position in State Street in the third quarter valued at $324,576,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. TD Cowen reaffirmed a “buy” rating on shares of State Street in a report on Wednesday, January 7th. Citigroup began coverage on State Street in a report on Monday, February 23rd. They issued a “buy” rating and a $150.00 price objective on the stock. Loop Capital set a $144.00 target price on State Street in a research note on Tuesday, January 6th. Morgan Stanley lowered their price target on State Street from $168.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $135.83.

Insiders Place Their Bets

In other State Street news, EVP John Plansky sold 16,100 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total value of $2,001,552.00. Following the completion of the sale, the executive vice president owned 56,162 shares in the company, valued at approximately $6,982,059.84. The trade was a 22.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

State Street Stock Performance

NYSE STT opened at $126.91 on Thursday. The company has a fifty day moving average of $127.24 and a two-hundred day moving average of $122.52. The company has a market capitalization of $35.37 billion, a PE ratio of 13.49, a P/E/G ratio of 1.11 and a beta of 1.43. State Street Corporation has a 1 year low of $72.81 and a 1 year high of $137.05. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61.

State Street (NYSE:STT) last posted its earnings results on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.15. State Street had a return on equity of 13.46% and a net margin of 13.02%.The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the firm earned $2.60 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. As a group, analysts expect that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $3.36 annualized dividend and a yield of 2.6%. State Street’s payout ratio is 35.71%.

State Street Company Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.