Sun Life Financial INC Cuts Holdings in State Street Corp (STT)
Sun Life Financial INC decreased its holdings in shares of State Street Corp (NYSE:STT) by 15.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,972 shares of the asset manager’s stock after selling 1,943 shares during the quarter. Sun Life Financial INC’s holdings in State Street were worth $1,070,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in STT. BlackRock Inc. lifted its holdings in shares of State Street by 1.3% during the fourth quarter. BlackRock Inc. now owns 21,564,559 shares of the asset manager’s stock worth $2,104,916,000 after buying an additional 276,242 shares in the last quarter. Longview Partners Guernsey LTD lifted its holdings in shares of State Street by 0.9% during the fourth quarter. Longview Partners Guernsey LTD now owns 8,131,523 shares of the asset manager’s stock worth $793,718,000 after buying an additional 68,797 shares in the last quarter. Capital International Investors lifted its holdings in shares of State Street by 63.3% during the third quarter. Capital International Investors now owns 5,771,226 shares of the asset manager’s stock worth $551,383,000 after buying an additional 2,237,595 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of State Street by 44.8% during the third quarter. Artisan Partners Limited Partnership now owns 4,470,723 shares of the asset manager’s stock worth $427,133,000 after buying an additional 1,383,249 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of State Street by 0.3% during the third quarter. Bank of New York Mellon Corp now owns 4,349,477 shares of the asset manager’s stock worth $415,547,000 after buying an additional 13,453 shares in the last quarter. 87.79% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Andrew P. Kuritzkes sold 10,248 shares of State Street stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.17, for a total transaction of $1,108,526.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Elizabeth Schaefer sold 1,473 shares of State Street stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $105.00, for a total value of $154,665.00. Following the sale, the chief accounting officer now directly owns 9,362 shares in the company, valued at $983,010. The disclosure for this sale can be found here. Insiders have sold 49,531 shares of company stock worth $5,146,169 over the last three months. Insiders own 0.71% of the company’s stock.
State Street Corp (STT) traded down $0.04 during trading on Monday, reaching $104.24. The company’s stock had a trading volume of 72,613 shares, compared to its average volume of 1,813,641. State Street Corp has a 1 year low of $75.27 and a 1 year high of $114.27. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market capitalization of $38,670.00, a PE ratio of 17.61, a PEG ratio of 1.36 and a beta of 1.29.
State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, January 23rd. The asset manager reported $1.61 EPS for the quarter, missing the Zacks’ consensus estimate of $1.71 by ($0.10). State Street had a net margin of 17.94% and a return on equity of 13.41%. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the previous year, the business posted $1.48 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. research analysts forecast that State Street Corp will post 7.68 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Thursday, March 29th. State Street’s payout ratio is 28.38%.
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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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