State Street Co. (NYSE:STT) Shares Sold by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC reduced its position in State Street Co. (NYSE:STT) by 10.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,995 shares of the asset manager’s stock after selling 335 shares during the period. Plimoth Trust Co. LLC’s holdings in State Street were worth $232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Symmetry Partners LLC grew its stake in State Street by 3.5% in the 1st quarter. Symmetry Partners LLC now owns 3,802 shares of the asset manager’s stock worth $294,000 after acquiring an additional 130 shares during the period. Tompkins Financial Corp grew its stake in shares of State Street by 28.3% during the 1st quarter. Tompkins Financial Corp now owns 680 shares of the asset manager’s stock valued at $53,000 after buying an additional 150 shares during the period. CWM LLC grew its stake in shares of State Street by 2.6% during the 1st quarter. CWM LLC now owns 6,435 shares of the asset manager’s stock valued at $498,000 after buying an additional 165 shares during the period. Syon Capital LLC grew its stake in shares of State Street by 3.7% during the 4th quarter. Syon Capital LLC now owns 4,735 shares of the asset manager’s stock valued at $367,000 after buying an additional 168 shares during the period. Finally, Coldstream Capital Management Inc. grew its stake in shares of State Street by 4.3% during the 4th quarter. Coldstream Capital Management Inc. now owns 4,132 shares of the asset manager’s stock valued at $320,000 after buying an additional 170 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Price Performance

STT opened at $74.14 on Thursday. The firm has a market cap of $22.34 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.28 and a beta of 1.48. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90. The company’s 50-day moving average price is $74.29 and its 200 day moving average price is $74.60. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.90.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.21. The firm 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, sell-side analysts expect that State Street Co. will post 7.95 earnings per share for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Monday, July 1st will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Monday, July 1st. State Street’s dividend payout ratio (DPR) is 51.69%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on STT shares. Argus boosted their price objective on shares of State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods decreased their price target on shares of State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Evercore ISI reaffirmed an “outperform” rating and set a $88.00 price target on shares of State Street in a research report on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $85.00 price target on shares of State Street in a research report on Monday. Finally, UBS Group upped their price target 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. 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. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $83.88.

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.