Gamble Jones Investment Counsel Reduces Position in State Street Corp (STT)

Gamble Jones Investment Counsel lowered its holdings in shares of State Street Corp (NYSE:STT) by 9.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,025 shares of the asset manager’s stock after selling 645 shares during the period. Gamble Jones Investment Counsel’s holdings in State Street were worth $601,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Puzo Michael J boosted its stake in State Street by 7.8% during the fourth quarter. Puzo Michael J now owns 7,599 shares of the asset manager’s stock worth $743,000 after acquiring an additional 550 shares in the last quarter. FDx Advisors Inc. boosted its stake in State Street by 2.9% during the first quarter. FDx Advisors Inc. now owns 20,444 shares of the asset manager’s stock worth $2,039,000 after acquiring an additional 582 shares in the last quarter. Alpine Woods Capital Investors LLC boosted its stake in 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 worth $2,194,000 after acquiring an additional 600 shares in the last quarter. Ledyard National Bank boosted its stake in State Street by 12.1% during the fourth quarter. Ledyard National Bank now owns 5,703 shares of the asset manager’s stock worth $557,000 after acquiring an additional 615 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in State Street by 24.1% during the first quarter. IFP Advisors Inc now owns 3,565 shares of the asset manager’s stock worth $356,000 after acquiring an additional 693 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE STT opened at $100.47 on Friday. The company has a market capitalization of $36.69 billion, a PE ratio of 16.86, a PEG ratio of 1.29 and a beta of 1.32. State Street Corp has a 52-week low of $80.73 and a 52-week high of $114.27. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.56 and a current ratio of 0.56.



State Street (NYSE:STT) last released its quarterly earnings data on Friday, April 20th. The asset manager reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.04. State Street had a net margin of 19.07% and a return on equity of 14.23%. The firm had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the company earned $1.21 earnings per share. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. research analysts anticipate that State Street Corp will post 7.78 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 17th. Stockholders of record on Monday, July 2nd will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, June 29th. This represents a $1.68 annualized dividend and a dividend yield of 1.67%. State Street’s payout ratio is 28.19%.

In other news, insider Jeff D. Conway sold 288 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $100.78, for a total transaction of $29,024.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Karen C. Keenan sold 851 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $100.78, for a total transaction of $85,763.78. The disclosure for this sale can be found here. Insiders have sold 12,860 shares of company stock valued at $1,377,980 over the last three months. 0.40% of the stock is owned by corporate insiders.

Several research firms recently commented on STT. ValuEngine raised shares of State Street from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research raised shares of State Street from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Thursday, May 3rd. Deutsche Bank upgraded shares of State Street from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Monday, April 23rd. Sandler O’Neill reiterated a “hold” rating and issued a $104.00 target price on shares of State Street in a research note on Monday, April 9th. Finally, Keefe, Bruyette & Woods set a $115.00 target price on shares of State Street and gave the stock a “buy” rating in a research note on Wednesday, April 4th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $110.27.

About State Street

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.

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

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