Lido Advisors LLC Has $1.53 Million Holdings in State Street Corporation $STT

Lido Advisors LLC lessened its stake in shares of State Street Corporation (NYSE:STT) by 23.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 12,101 shares of the asset manager’s stock after selling 3,709 shares during the period. Lido Advisors LLC’s holdings in State Street were worth $1,532,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of STT. IFM Investors Pty Ltd grew its holdings in shares of State Street by 9.7% in the 1st quarter. IFM Investors Pty Ltd now owns 84,534 shares of the asset manager’s stock worth $10,699,000 after purchasing an additional 7,469 shares during the last quarter. Clean Yield Group boosted its position in State Street by 8,247.4% in the fourth quarter. Clean Yield Group now owns 19,199 shares of the asset manager’s stock valued at $2,477,000 after buying an additional 18,969 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in State Street in the fourth quarter valued at about $1,959,000. New York State Teachers Retirement System increased its holdings in shares of State Street by 9.7% during the first quarter. New York State Teachers Retirement System now owns 303,919 shares of the asset manager’s stock worth $38,464,000 after buying an additional 26,862 shares in the last quarter. Finally, Campbell Newman Asset Management Inc. bought a new position in shares of State Street in the fourth quarter valued at approximately $21,515,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Transactions at State Street

In related news, CEO Hanley Ronald P. O sold 14,553 shares of State Street stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total value of $2,260,808.55. Following the completion of the sale, the chief executive officer directly owned 255,512 shares in the company, valued at $39,693,789.20. This trade represents a 5.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $162.14, for a total value of $243,210.00. Following the sale, the executive vice president directly owned 41,827 shares of the company’s stock, valued at $6,781,829.78. This represents a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 25,265 shares of company stock worth $3,935,103 over the last 90 days. 0.27% of the stock is owned by insiders.

State Street Price Performance

STT opened at $184.59 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.59 and a quick ratio of 0.57. The stock has a market capitalization of $51.09 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 0.77 and a beta of 1.42. The company’s 50 day simple moving average is $169.67 and its 200-day simple moving average is $146.44. State Street Corporation has a one year low of $104.64 and a one year high of $192.51.

State Street (NYSE:STT) last posted its quarterly earnings data on Thursday, July 16th. The asset manager reported $3.65 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.31. State Street had a net margin of 15.02% and a return on equity of 15.26%. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the previous year, the company posted $2.04 EPS. State Street’s revenue was up 23.3% on a year-over-year basis. Sell-side analysts anticipate that State Street Corporation will post 13.68 earnings per share for the current fiscal year.

State Street Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Thursday, October 1st will be given a dividend of $0.92 per share. The ex-dividend date is Thursday, October 1st. This is an increase from State Street’s previous quarterly dividend of $0.84. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.0%. State Street’s dividend payout ratio is presently 32.45%.

Analyst Ratings Changes

Several research analysts have recently commented on STT shares. Weiss Ratings raised State Street from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, May 28th. Keefe, Bruyette & Woods lifted their price objective on State Street from $195.00 to $215.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Seaport Research Partners reissued a “buy” rating and issued a $170.00 price objective on shares of State Street in a research note on Monday, April 20th. Citigroup increased their target price on State Street from $193.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Finally, Barclays raised their target price on State Street from $165.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given 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 $184.72.

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.