Thompson Rubinstein Investment Management Inc. OR Lowers Stake in State Street Corp (STT)
Thompson Rubinstein Investment Management Inc. OR lowered its holdings in State Street Corp (NYSE:STT) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,974 shares of the asset manager’s stock after selling 2,500 shares during the period. Thompson Rubinstein Investment Management Inc. OR’s holdings in State Street were worth $1,071,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Strategic Wealth Partners Ltd. increased its holdings in State Street by 1,038.7% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 353 shares of the asset manager’s stock worth $30,000 after acquiring an additional 322 shares during the period. Moody National Bank Trust Division increased its holdings in State Street by 199.4% during the 4th quarter. Moody National Bank Trust Division now owns 470 shares of the asset manager’s stock worth $30,000 after acquiring an additional 313 shares during the period. Quadrant Capital Group LLC increased its holdings in State Street by 19.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,072 shares of the asset manager’s stock worth $59,000 after acquiring an additional 177 shares during the period. CI Investments Inc. bought a new stake in State Street during the 3rd quarter worth approximately $101,000. Finally, Moneta Group Investment Advisors LLC increased its holdings in State Street by 3,604.1% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 29,633 shares of the asset manager’s stock worth $103,000 after acquiring an additional 28,833 shares during the period. 87.17% of the stock is currently owned by institutional investors.
STT stock traded up $0.73 during midday trading on Friday, reaching $71.78. The company had a trading volume of 738,349 shares, compared to its average volume of 2,777,728. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.50. State Street Corp has a 1 year low of $57.87 and a 1 year high of $114.27. The stock has a market cap of $26.75 billion, a PE ratio of 12.04, a P/E/G ratio of 1.14 and a beta of 1.35.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 16th. Shareholders of record on Wednesday, January 2nd were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, December 31st. This represents a $1.88 dividend on an annualized basis and a yield of 2.62%. State Street’s dividend payout ratio is presently 31.54%.
A number of research firms recently weighed in on STT. Wolfe Research began coverage on shares of State Street in a report on Tuesday, September 25th. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods set a $90.00 target price on shares of State Street and gave the stock a “hold” rating in a report on Tuesday, October 2nd. Zacks Investment Research raised shares of State Street from a “sell” rating to a “hold” rating in a report on Thursday, December 13th. Citigroup reaffirmed a “buy” rating and set a $80.00 target price on shares of State Street in a report on Tuesday, December 11th. Finally, Deutsche Bank upped their target price on shares of State Street from $98.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday, September 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $91.41.
In other news, Director Saint-Aignan Patrick De bought 500 shares of the firm’s stock in a transaction on Tuesday, October 23rd. The shares were bought at an average price of $68.62 per share, for a total transaction of $34,310.00. Following the purchase, the director now owns 25,138 shares in the company, valued at $1,724,969.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Louis D. Maiuri acquired 740 shares of State Street stock in a transaction dated Wednesday, October 24th. The shares were bought at an average price of $67.60 per share, for a total transaction of $50,024.00. Following the transaction, the executive vice president now owns 45,314 shares of the company’s stock, valued at $3,063,226.40. The disclosure for this purchase can be found here. 0.40% of the stock is owned by insiders.
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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; 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.
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