Clarius Group LLC Sells 178 Shares of State Street Corporation $STT

Clarius Group LLC lessened its stake in shares of State Street Corporation (NYSE:STT) by 7.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,365 shares of the asset manager’s stock after selling 178 shares during the period. Clarius Group LLC’s holdings in State Street were worth $251,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of STT. Brighton Jones LLC acquired a new position in shares of State Street during the 4th quarter worth approximately $296,000. Merit Financial Group LLC increased its holdings in State Street by 45.3% during the first quarter. Merit Financial Group LLC now owns 5,846 shares of the asset manager’s stock worth $523,000 after buying an additional 1,822 shares during the last quarter. Wedmont Private Capital raised its position in State Street by 4.2% during the first quarter. Wedmont Private Capital now owns 6,410 shares of the asset manager’s stock worth $574,000 after acquiring an additional 258 shares in the last quarter. UMB Bank n.a. raised its position in State Street by 8.4% during the first quarter. UMB Bank n.a. now owns 2,272 shares of the asset manager’s stock worth $203,000 after acquiring an additional 176 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its stake in State Street by 4.5% in the first quarter. Park Avenue Securities LLC now owns 6,919 shares of the asset manager’s stock valued at $619,000 after acquiring an additional 297 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STT. Weiss Ratings reaffirmed a “buy (b)” rating on shares of State Street in a report on Saturday, September 27th. Cfra Research raised State Street from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, July 15th. Wells Fargo & Company lifted their target price on State Street from $113.00 to $121.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Bank of America boosted their target price on State Street from $106.00 to $109.00 and gave the stock an “underperform” rating in a report on Wednesday, July 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $162.00 price target on shares of State Street in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, State Street presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.83.

State Street Stock Up 0.5%

STT opened at $117.00 on Tuesday. State Street Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $118.06. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market capitalization of $33.19 billion, a P/E ratio of 13.10, a P/E/G ratio of 1.13 and a beta of 1.46. The stock has a fifty day moving average of $112.92 and a 200-day moving average of $101.72.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $2.53 EPS for the quarter, beating the consensus estimate of $2.36 by $0.17. State Street had a net margin of 12.59% and a return on equity of 12.96%. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the prior year, the company posted $2.15 earnings per share. State Street’s revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that State Street Corporation will post 9.68 EPS for the current year.

State Street Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, October 1st. This is a boost from State Street’s previous quarterly dividend of $0.76. State Street’s dividend payout ratio (DPR) is currently 37.63%.

Insider Activity at State Street

In other news, EVP Michael L. Richards sold 990 shares of State Street stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.29, for a total value of $108,197.10. Following the completion of the sale, the executive vice president directly owned 41,332 shares in the company, valued at approximately $4,517,174.28. The trade was a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

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, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.