State Street Co. (NYSE:STT) Shares Sold by Choate Investment Advisors

Choate Investment Advisors reduced its holdings in shares of State Street Co. (NYSE:STT) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,548 shares of the asset manager’s stock after selling 160 shares during the quarter. Choate Investment Advisors’ holdings in State Street were worth $584,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of State Street by 4.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 941,404 shares of the asset manager’s stock worth $72,789,000 after acquiring an additional 40,835 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of State Street during the 4th quarter worth about $45,687,000. Ferguson Wellman Capital Management Inc. boosted its position in shares of State Street by 3.7% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 484,411 shares of the asset manager’s stock worth $37,522,000 after acquiring an additional 17,270 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in shares of State Street by 298.6% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 37,888 shares of the asset manager’s stock valued at $2,935,000 after purchasing an additional 28,382 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of State Street by 4.9% in the 4th quarter. Federated Hermes Inc. now owns 270,342 shares of the asset manager’s stock valued at $20,941,000 after purchasing an additional 12,594 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Trading Up 0.3 %

Shares of NYSE:STT traded up $0.22 during trading on Tuesday, reaching $79.16. The stock had a trading volume of 299,650 shares, compared to its average volume of 2,263,467. The business has a fifty day moving average price of $74.61 and a 200-day moving average price of $74.48. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The stock has a market cap of $23.85 billion, a P/E ratio of 14.78, a PEG ratio of 1.31 and a beta of 1.49. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90.

State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.17 earnings per share. As a group, analysts anticipate that State Street Co. will post 7.94 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 11th. Investors of record on Monday, July 1st were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.49%. The ex-dividend date was Monday, July 1st. State Street’s dividend payout ratio (DPR) is 51.69%.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of research analyst reports. Wolfe Research reissued an “underperform” rating and issued a $73.00 target price on shares of State Street in a research report on Monday, July 8th. UBS Group upped their price objective on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Argus increased their target price on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 target price on shares of State Street in a research note on Wednesday, June 12th. Finally, JPMorgan Chase & Co. increased their target price on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $83.11.

State Street Company 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, 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.