State Street Corporation $STT Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. decreased its position in shares of State Street Corporation (NYSE:STT) by 83.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,532 shares of the asset manager’s stock after selling 49,464 shares during the quarter. Jefferies Financial Group Inc.’s holdings in State Street were worth $1,230,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new position in State Street during the third quarter worth approximately $29,000. Measured Wealth Private Client Group LLC acquired a new position in State Street during the third quarter worth approximately $35,000. Ameriflex Group Inc. increased its position in State Street by 102.5% during the third quarter. Ameriflex Group Inc. now owns 318 shares of the asset manager’s stock worth $37,000 after buying an additional 161 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its position in State Street by 38.2% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after buying an additional 94 shares during the period. Finally, Board of the Pension Protection Fund acquired a new position in State Street during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Key Stories Impacting State Street

Here are the key news stories impacting State Street this week:

• Positive Sentiment: State Street Investment Management announced a change to its ETF lineup, including the planned closure and liquidation of the State Street DoubleLine Emerging Markets Fixed Income ETF (EMTL). This reflects an active review of the firm’s product set and could help management focus resources on higher-priority offerings. State Street Investment Management Announces Change to ETF Lineup
• Neutral Sentiment: State Street presented at the Bernstein 42nd Annual Strategic Decisions Conference, which may have given investors an updated look at strategy and outlook, but no major new financial details were included in the headline. State Street Corporation (STT) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript
• Negative Sentiment: CEO Ronald P. Hanley sold 14,553 shares and EVP W. Bradford Hu sold 9,212 shares in pre-arranged Rule 10b5-1 transactions. While these were planned sales, insider selling can still weigh on investor sentiment. CEO stock sale SEC filing EVP stock sale SEC filing

Insider Activity at State Street

In other news, EVP W. Bradford Hu sold 9,212 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total value of $1,431,084.20. Following the sale, the executive vice president directly owned 59,552 shares in the company, valued at $9,251,403.20. This represents a 13.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mostapha Tahiri sold 9,611 shares of the company’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $152.93, for a total value of $1,469,810.23. Following the completion of the sale, the chief operating officer owned 64,642 shares in the company, valued at $9,885,701.06. This represents a 12.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 52,476 shares of company stock valued at $7,624,925 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

STT has been the topic of several research analyst reports. Royal Bank Of Canada lifted their price target on State Street from $135.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Monday, April 20th. Wells Fargo & Company lifted their price target on State Street from $162.00 to $171.00 and gave the stock an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on State Street from $137.50 to $158.50 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Seaport Research Partners reaffirmed a “buy” rating and set a $170.00 price target on shares of State Street in a research report on Monday, April 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of State Street 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.57.

State Street Trading Down 0.0%

NYSE:STT opened at $157.87 on Friday. The firm has a market cap of $43.69 billion, a P/E ratio of 16.01, a PEG ratio of 0.86 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 $142.61 and its 200-day simple moving average is $132.06. State Street Corporation has a 12-month low of $94.72 and a 12-month high of $159.31.

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

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, July 1st. State Street’s payout ratio is presently 34.08%.

State Street 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.