Symmetry Investments LP Trims Position in State Street Co. (NYSE:STT)

Symmetry Investments LP trimmed its holdings in State Street Co. (NYSE:STTFree Report) by 27.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,600 shares of the asset manager’s stock after selling 1,365 shares during the period. Symmetry Investments LP’s holdings in State Street were worth $279,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CVA Family Office LLC purchased a new stake in shares of State Street in the fourth quarter valued at about $27,000. Venturi Wealth Management LLC increased its stake in shares of State Street by 92.5% during the fourth quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after acquiring an additional 184 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in shares of State Street during the fourth quarter worth about $35,000. Bruce G. Allen Investments LLC acquired a new position in shares of State Street during the fourth quarter worth about $51,000. Finally, GAMMA Investing LLC acquired a new position in shares of State Street during the fourth quarter worth about $75,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Price Performance

Shares of STT stock traded down $1.69 during trading hours on Tuesday, hitting $72.66. The company’s stock had a trading volume of 230,862 shares, compared to its average volume of 2,271,912. The business has a fifty day moving average of $75.08 and a 200-day moving average of $74.72. The stock has a market cap of $21.89 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 1.28 and a beta of 1.47. State Street Co. has a twelve month low of $62.78 and a twelve month high of $79.90. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.90.

State Street (NYSE:STTGet Free Report) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, beating the consensus estimate of $1.48 by $0.21. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.06 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. As a group, equities research analysts anticipate that State Street Co. will post 7.95 EPS for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Monday, July 1st will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Monday, July 1st. State Street’s payout ratio is 51.69%.

Analyst Ratings Changes

STT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Evercore ISI boosted their price target on shares of State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. UBS Group upped their target price on shares of State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Argus upped their target price on shares of State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Finally, Morgan Stanley upped their target price on shares of State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, State Street presently has a consensus rating of “Hold” and a consensus price target of $84.04.

Read Our Latest Analysis on STT

About State Street

(Free Report)

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.

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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