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

Lido Advisors LLC reduced its position in shares of State Street Corporation (NYSE:STT) by 23.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Regents of The University of California lifted its position in State Street by 211.2% during the 4th quarter. Regents of The University of California now owns 8,706,195 shares of the asset manager’s stock worth $1,123,186,000 after acquiring an additional 5,908,370 shares during the last quarter. Norges Bank acquired a new stake in shares of State Street in the fourth quarter valued at about $303,483,000. Pinebridge Investments LLC bought a new position in shares of State Street in the fourth quarter worth about $178,705,000. Victory Capital Management Inc. increased its stake in shares of State Street by 30.8% in the fourth quarter. Victory Capital Management Inc. now owns 4,559,546 shares of the asset manager’s stock worth $588,227,000 after purchasing an additional 1,074,174 shares during the period. Finally, Two Sigma Investments LP lifted its position in shares of State Street by 261.0% during the 3rd quarter. Two Sigma Investments LP now owns 1,217,802 shares of the asset manager’s stock worth $141,277,000 after purchasing an additional 880,507 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Hanley Ronald P. O sold 14,553 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total value of $2,260,808.55. Following the completion of the transaction, the chief executive officer owned 255,512 shares in the company, valued at approximately $39,693,789.20. This represents a 5.39% decrease in their position. The sale was disclosed in a filing with the SEC, 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 firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $162.14, for a total transaction of $243,210.00. Following the transaction, the executive vice president directly owned 41,827 shares of the company’s stock, valued at $6,781,829.78. The trade was a 3.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 25,265 shares of company stock worth $3,935,103 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

State Street Trading Down 0.4%

State Street stock opened at $184.59 on Tuesday. The business has a 50 day moving average price of $169.67 and a two-hundred day moving average price of $146.44. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 1.04. The stock has a market cap of $51.09 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 0.77 and a beta of 1.42. State Street Corporation has a 12 month low of $104.64 and a 12 month high of $192.51.

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

State Street Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Zacks Research raised State Street from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. upped their price target on State Street from $158.50 to $176.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. Wells Fargo & Company increased their price objective on State Street from $196.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Weiss Ratings upgraded shares of State Street from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, May 28th. Finally, Argus boosted their target price on shares of State Street from $140.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.