Ieq Capital LLC Acquires New Stake in State Street Co. (NYSE:STT)

Ieq Capital LLC acquired a new stake in shares of State Street Co. (NYSE:STT) in the first quarter, HoldingsChannel.com reports. The firm acquired 2,557 shares of the asset manager’s stock, valued at approximately $215,000.

A number of other institutional investors have also recently bought and sold shares of STT. Hoover Financial Advisors Inc. purchased a new stake in State Street during the fourth quarter valued at $25,000. Alpha DNA Investment Management LLC purchased a new stake in State Street during the fourth quarter valued at $25,000. JJJ Advisors Inc. increased its position in State Street by 436.8% during the fourth quarter. JJJ Advisors Inc. now owns 365 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 297 shares during the last quarter. CVA Family Office LLC purchased a new stake in State Street during the first quarter valued at $32,000. Finally, Alpha Paradigm Partners LLC purchased a new stake in State Street during the fourth quarter valued at $34,000. Institutional investors own 91.77% of the company’s stock.

A number of analysts recently commented on STT shares. Barclays upped their price objective on State Street from $99.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, April 7th. Wells Fargo & Company upped their price target on State Street from $83.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 1st. Zacks Investment Research cut State Street from a “buy” rating to a “hold” rating and set a $82.00 price target for the company. in a research report on Monday, January 18th. Credit Suisse Group upped their price target on State Street from $78.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 20th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on State Street from $97.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, April 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $83.43.

In other State Street news, EVP Michael L. Richards sold 365 shares of the firm’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $74.61, for a total transaction of $27,232.65. Following the completion of the transaction, the executive vice president now owns 24,420 shares in the company, valued at approximately $1,821,976.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew Erickson sold 11,000 shares of the firm’s stock in a transaction that occurred on Friday, February 26th. The shares were sold at an average price of $73.30, for a total value of $806,300.00. Following the completion of the sale, the executive vice president now directly owns 58,997 shares of the company’s stock, valued at $4,324,480.10. The disclosure for this sale can be found here. Insiders have sold a total of 11,898 shares of company stock valued at $873,183 in the last 90 days. 0.28% of the stock is currently owned by company insiders.

NYSE STT opened at $86.75 on Monday. The firm has a market cap of $30.17 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 1.11 and a beta of 1.60. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $84.29 and a 200-day moving average price of $76.03. State Street Co. has a twelve month low of $53.39 and a twelve month high of $89.28.

State Street (NYSE:STT) last released its quarterly earnings results on Thursday, April 15th. The asset manager reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.85 billion. State Street had a return on equity of 12.24% and a net margin of 20.75%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.62 EPS. Research analysts expect that State Street Co. will post 6.58 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st will be issued a dividend of $28.125 per share. This represents a $112.50 annualized dividend and a yield of 129.68%. The ex-dividend date of this dividend is Friday, May 28th. This is a boost from State Street’s previous quarterly dividend of $0.52. State Street’s dividend payout ratio (DPR) is currently 33.71%.

State Street Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product accounting; daily pricing and administration; master trust and master custody; depotbank; 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.

Further Reading: Options Trading

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

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