Macquarie Group Ltd. Cuts Position in State Street Corp (STT)

Macquarie Group Ltd. reduced its stake in State Street Corp (NYSE:STT) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 334,892 shares of the asset manager’s stock after selling 3,304 shares during the quarter. Macquarie Group Ltd.’s holdings in State Street were worth $32,237,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Livingston Group Asset Management CO operating as Southport Capital Management lifted its position in State Street by 13.6% in the 4th quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 4,534 shares of the asset manager’s stock valued at $443,000 after acquiring an additional 542 shares in the last quarter. Puzo Michael J lifted its position in State Street by 7.8% in the 4th quarter. Puzo Michael J now owns 7,599 shares of the asset manager’s stock valued at $743,000 after acquiring an additional 550 shares in the last quarter. Covenant Asset Management LLC lifted its position in State Street by 3.8% in the 4th quarter. Covenant Asset Management LLC now owns 15,382 shares of the asset manager’s stock valued at $1,501,000 after acquiring an additional 564 shares in the last quarter. Ledyard National Bank lifted its position in State Street by 12.1% in the 4th quarter. Ledyard National Bank now owns 5,703 shares of the asset manager’s stock valued at $557,000 after acquiring an additional 615 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its position in State Street by 1.8% in the 3rd quarter. Evergreen Capital Management LLC now owns 34,775 shares of the asset manager’s stock valued at $3,322,000 after acquiring an additional 629 shares in the last quarter. 88.38% of the stock is currently owned by institutional investors and hedge funds.

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In other news, EVP George E. Sullivan sold 3,495 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were 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 of the company’s stock, valued at approximately $6,013,103.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph L. Hooley sold 33,568 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $102.65, for a total transaction of $3,445,755.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,531 shares of company stock worth $5,146,169. 0.71% of the stock is owned by insiders.

STT has been the topic of several analyst reports. ValuEngine raised shares of State Street from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research raised shares of State Street from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research report on Thursday, January 25th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Tuesday, December 12th. Bank of America boosted their price target on shares of State Street from $108.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Finally, Morgan Stanley boosted their price target on shares of State Street from $114.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. State Street has a consensus rating of “Buy” and an average price target of $110.21.

Shares of State Street stock opened at $106.81 on Thursday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.61. The stock has a market cap of $39,026.39, a PE ratio of 16.53, a PEG ratio of 1.38 and a beta of 1.29. State Street Corp has a fifty-two week low of $75.27 and a fifty-two week high of $114.27.

State Street (NYSE:STT) last issued its earnings results on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.71 by ($0.10). The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.98 billion. State Street had a net margin of 17.94% and a return on equity of 13.41%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.48 earnings per share. analysts predict that State Street Corp will post 7.68 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.57%. State Street’s payout ratio is 32.12%.

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

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