Liberty Mutual Group Asset Management Inc. decreased its position in State Street Corp (NYSE:STT) by 5.2% in the 4th quarter, HoldingsChannel reports. The fund owned 14,904 shares of the asset manager’s stock after selling 820 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in State Street were worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of STT. Fisher Asset Management LLC acquired a new position in State Street during the 3rd quarter valued at approximately $224,000. Fox Run Management L.L.C. acquired a new position in State Street during the 3rd quarter valued at approximately $439,000. Nationwide Fund Advisors boosted its position in State Street by 38.8% during the 3rd quarter. Nationwide Fund Advisors now owns 311,211 shares of the asset manager’s stock valued at $29,733,000 after purchasing an additional 86,945 shares during the period. Calamos Advisors LLC boosted its position in State Street by 1.8% during the 3rd quarter. Calamos Advisors LLC now owns 48,219 shares of the asset manager’s stock valued at $4,607,000 after purchasing an additional 842 shares during the period. Finally, Pictet Asset Management Ltd. boosted its position in State Street by 5.9% during the 3rd quarter. Pictet Asset Management Ltd. now owns 310,161 shares of the asset manager’s stock valued at $29,633,000 after purchasing an additional 17,290 shares during the period. Institutional investors own 87.56% of the company’s stock.
In other news, CEO Joseph L. Hooley sold 33,568 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $102.65, for a total transaction of $3,445,755.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP George E. Sullivan sold 3,495 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $103.07, for a total value of $360,229.65. Following the sale, the executive vice president now directly owns 58,340 shares in the company, valued at $6,013,103.80. The disclosure for this sale can be found here. Insiders have sold 37,810 shares of company stock worth $3,882,978 over the last ninety days. 0.71% of the stock is owned by insiders.
State Street (NYSE:STT) last announced its earnings results on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.10). The company had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.98 billion. State Street had a return on equity of 13.41% and a net margin of 17.94%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $1.48 earnings per share. research analysts anticipate that State Street Corp will post 7.69 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, March 29th. State Street’s dividend payout ratio (DPR) is presently 32.12%.
STT has been the subject of a number of analyst reports. Keefe, Bruyette & Woods restated a “buy” rating and set a $114.00 price objective on shares of State Street in a research report on Friday, December 22nd. Zacks Investment Research upgraded State Street from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Tuesday, November 14th. Vining Sparks restated a “buy” rating and set a $120.00 price objective on shares of State Street in a research report on Monday, January 8th. Citigroup upgraded State Street from a “neutral” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Wednesday, January 10th. Finally, Buckingham Research lifted their target price on State Street from $124.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $106.69.
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State Street Company Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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