Farther Finance Advisors LLC Has $253,000 Stake in State Street Corporation (NYSE:STT)

Farther Finance Advisors LLC trimmed its stake in shares of State Street Corporation (NYSE:STT) by 16.6% during the first quarter, HoldingsChannel reports. The fund owned 2,852 shares of the asset manager’s stock after selling 566 shares during the period. Farther Finance Advisors LLC’s holdings in State Street were worth $253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in STT. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of State Street during the fourth quarter worth $42,000. Coppell Advisory Solutions LLC raised its holdings in shares of State Street by 2,942.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock worth $42,000 after acquiring an additional 412 shares during the period. Loomis Sayles & Co. L P raised its holdings in shares of State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after acquiring an additional 311 shares during the period. Minot DeBlois Advisors LLC acquired a new stake in shares of State Street during the fourth quarter worth $49,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of State Street during the fourth quarter worth $61,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the sale, the chief accounting officer now owns 7,354 shares in the company, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

State Street Stock Performance

Shares of STT opened at $99.21 on Thursday. The firm has a 50-day moving average of $92.28 and a 200-day moving average of $94.04. State Street Corporation has a one year low of $71.80 and a one year high of $103.00. The company has a market cap of $28.29 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 1.13 and a beta of 1.44. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.57 and a quick ratio of 0.57.

State Street (NYSE:STT) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.06. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. State Street had a net margin of 12.85% and a return on equity of 12.79%. During the same quarter last year, the firm posted $1.69 EPS. As a group, equities analysts forecast that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Tuesday, July 1st. State Street’s dividend payout ratio is presently 34.12%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on STT shares. Keefe, Bruyette & Woods decreased their target price on shares of State Street from $118.00 to $113.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. The Goldman Sachs Group set a $98.00 target price on shares of State Street and gave the company a “buy” rating in a research report on Thursday, April 17th. Cfra Research downgraded shares of State Street from a “moderate buy” rating to a “hold” rating in a research report on Thursday, May 29th. Barclays decreased their target price on shares of State Street from $127.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Finally, Evercore ISI decreased their target price on shares of State Street from $109.00 to $106.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $102.54.

State Street 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.