Hexagon Capital Partners LLC Sells 166 Shares of State Street Co. (NYSE:STT)

Hexagon Capital Partners LLC lessened its stake in State Street Co. (NYSE:STT) by 12.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,188 shares of the asset manager’s stock after selling 166 shares during the period. Hexagon Capital Partners LLC’s holdings in State Street were worth $92,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. CVA Family Office LLC purchased a new position in shares of State Street during the 4th quarter valued at approximately $27,000. Venturi Wealth Management LLC boosted its stake in shares of State Street by 92.5% in the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after buying an additional 184 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in shares of State Street in the 4th quarter valued at about $35,000. Norwood Financial Corp purchased a new stake in State Street during the first quarter worth approximately $35,000. Finally, Accent Capital Management LLC purchased a new stake in State Street during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on STT. Royal Bank of Canada reissued a “sector perform” rating and issued a $85.00 target price on shares of State Street in a report on Monday. Argus upped their price objective on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. upped their price objective on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Morgan Stanley restated an “equal weight” rating and issued a $90.00 price objective on shares of State Street in a research report on Wednesday, June 12th. Finally, UBS Group upped their price objective on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $83.88.

State Street Stock Performance

NYSE:STT traded up $0.25 during trading hours on Monday, reaching $73.56. 2,154,934 shares of the stock were exchanged, compared to its average volume of 2,293,828. The stock has a market capitalization of $22.16 billion, a P/E ratio of 13.78, a P/E/G ratio of 1.29 and a beta of 1.49. State Street Co. has a 52 week low of $62.78 and a 52 week high of $79.90. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The firm has a 50 day simple moving average of $74.31 and a 200-day simple moving average of $74.66.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.21. State Street had a return on equity of 12.03% and a net margin of 9.62%. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.06 billion. As a group, sell-side analysts forecast that State Street Co. will post 7.94 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders 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 3.75%. The ex-dividend date is Monday, July 1st. State Street’s dividend payout ratio is presently 51.69%.

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.