Sigma Planning Corp Has $479,000 Stock Position in State Street Corp (NYSE:STT)

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Sigma Planning Corp reduced its position in shares of State Street Corp (NYSE:STT) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,089 shares of the asset manager’s stock after selling 409 shares during the quarter. Sigma Planning Corp’s holdings in State Street were worth $479,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. CWM LLC raised its stake in shares of State Street by 693.4% in the second quarter. CWM LLC now owns 484 shares of the asset manager’s stock worth $27,000 after purchasing an additional 423 shares during the last quarter. Putnam FL Investment Management Co. purchased a new stake in shares of State Street in the second quarter worth approximately $28,000. Massmutual Trust Co. FSB ADV purchased a new stake in shares of State Street in the second quarter worth approximately $31,000. Reilly Financial Advisors LLC raised its stake in shares of State Street by 91.7% in the third quarter. Reilly Financial Advisors LLC now owns 627 shares of the asset manager’s stock worth $37,000 after purchasing an additional 300 shares during the last quarter. Finally, NuWave Investment Management LLC raised its stake in shares of State Street by 50.8% in the second quarter. NuWave Investment Management LLC now owns 742 shares of the asset manager’s stock worth $42,000 after purchasing an additional 250 shares during the last quarter. 92.22% of the stock is currently owned by institutional investors and hedge funds.

In other State Street news, Director Joseph L. Hooley sold 25,000 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $65.70, for a total transaction of $1,642,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hanley Ronald P. O acquired 7,000 shares of State Street stock in a transaction on Thursday, August 29th. The shares were purchased at an average cost of $50.43 per share, with a total value of $353,010.00. Following the completion of the acquisition, the chief executive officer now owns 127,235 shares of the company’s stock, valued at approximately $6,416,461.05. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 68,009 shares of company stock valued at $4,229,092. 0.40% of the stock is owned by corporate insiders.

Several brokerages have recently commented on STT. Deutsche Bank raised State Street from a “hold” rating to a “buy” rating and increased their price objective for the stock from $64.00 to $81.00 in a research note on Wednesday. Bank of America increased their price objective on State Street from $64.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. UBS Group increased their price objective on State Street from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. ValuEngine raised State Street from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $68.00 target price (up from $60.00) on shares of State Street in a report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $69.02.

Shares of STT stock traded up $0.44 during trading on Friday, hitting $73.10. The company’s stock had a trading volume of 2,326,431 shares, compared to its average volume of 2,817,832. The company has a market cap of $25.55 billion, a PE ratio of 10.12, a P/E/G ratio of 1.14 and a beta of 1.52. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average of $62.19 and a 200-day moving average of $58.53. State Street Corp has a 52 week low of $48.62 and a 52 week high of $77.00.

State Street (NYSE:STT) last released its earnings results on Friday, October 18th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.11. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.86 billion. State Street had a return on equity of 11.34% and a net margin of 16.18%. State Street’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.87 earnings per share. As a group, research analysts predict that State Street Corp will post 5.8 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.52 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from State Street’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a dividend yield of 2.85%. State Street’s dividend payout ratio is currently 28.81%.

About State Street

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; 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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