7,679 Shares in State Street Corporation $STT Acquired by Legato Capital Management LLC

Legato Capital Management LLC purchased a new position in shares of State Street Corporation (NYSE:STT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,679 shares of the asset manager’s stock, valued at approximately $991,000.

Several other large investors also recently added to or reduced their stakes in STT. JPL Wealth Management LLC acquired a new stake in State Street during the third quarter worth about $29,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of State Street in the 3rd quarter valued at $35,000. Ameriflex Group Inc. raised its holdings in shares of State Street by 102.5% in the 3rd quarter. Ameriflex Group Inc. now owns 318 shares of the asset manager’s stock valued at $37,000 after buying an additional 161 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of State Street by 38.2% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock valued at $39,000 after buying an additional 94 shares during the period. Finally, Board of the Pension Protection Fund purchased a new stake in shares of State Street in the 4th quarter valued at $39,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on STT shares. Barclays set a $165.00 target price on State Street in a research note on Monday, April 20th. Seaport Research Partners reaffirmed a “buy” rating and set a $170.00 price objective on shares of State Street in a research report on Monday, April 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of State Street in a research report on Monday, April 20th. Citigroup upped their price objective on State Street from $150.00 to $172.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Evercore set a $158.00 price objective on State Street and gave the stock an “outperform” rating in a research report on Monday, April 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $155.77.

Insider Transactions at State Street

In other news, EVP Michael L. Richards sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the transaction, the executive vice president directly owned 43,522 shares of the company’s stock, valued at approximately $6,697,600.58. This represents a 6.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John Plansky sold 16,100 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total value of $2,001,552.00. Following the transaction, the executive vice president directly owned 56,162 shares of the company’s stock, valued at approximately $6,982,059.84. This trade represents a 22.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 28,711 shares of company stock valued at $3,933,032. Corporate insiders own 0.27% of the company’s stock.

State Street Trading Up 0.0%

NYSE:STT opened at $153.96 on Tuesday. The firm has a market cap of $42.61 billion, a P/E ratio of 15.61, a PEG ratio of 0.84 and a beta of 1.45. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.04. The stock’s 50 day simple moving average is $140.38 and its 200-day simple moving average is $131.20. State Street Corporation has a 12-month low of $94.19 and a 12-month high of $156.18.

State Street (NYSE:STT) last released its earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.20. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.59 billion. State Street had a return on equity of 14.22% and a net margin of 13.47%.The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.04 earnings per share. Equities analysts anticipate that State Street Corporation will post 12.35 EPS for the current year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, July 1st. State Street’s dividend payout ratio is 34.08%.

State Street Company Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.