State Street Corp (STT) Shares Sold by Pioneer Investment Management Inc.

State Street Corp (STT) Shares Sold by Pioneer Investment Management Inc.

A number of other large investors have also modified their holdings of the stock. Cobiz Wealth LLC raised its stake in shares of State Street Corp by 0.5% in the fourth quarter. Cobiz Wealth LLC now owns 3,160 shares of the asset manager’s stock valued at $246,000 after buying an additional 15 shares during the last quarter. Homrich & Berg raised its stake in shares of State Street Corp by 0.5% in the third quarter. Homrich & Berg now owns 11,966 shares of the asset manager’s stock valued at $833,000 after buying an additional 57 shares during the last quarter. CAPROCK Group Inc. raised its stake in shares of State Street Corp by 2.3% in the first quarter. CAPROCK Group Inc. now owns 3,651 shares of the asset manager’s stock valued at $291,000 after buying an additional 81 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of State Street Corp by 0.5% in the first quarter. Diamond Hill Capital Management Inc. now owns 18,989 shares of the asset manager’s stock valued at $1,512,000 after buying an additional 97 shares during the last quarter. Finally, Freestone Capital Holdings LLC raised its stake in shares of State Street Corp by 1.4% in the fourth quarter. Freestone Capital Holdings LLC now owns 8,638 shares of the asset manager’s stock valued at $671,000 after buying an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 85.06% of the company’s stock.

Pioneer Investment Management Inc. reduced its stake in shares of State Street Corp (NYSE:STT) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 649,526 shares of the asset manager’s stock after selling 5,400 shares during the period. Pioneer Investment Management Inc.’s holdings in State Street Corp were worth $51,709,000 at the end of the most recent quarter.

Shares of State Street Corp (STT) traded down 0.27% during mid-day trading on Wednesday, hitting $81.46. 1,815,142 shares of the company traded hands. State Street Corp has a one year low of $50.60 and a one year high of $85.38. The firm has a 50-day moving average of $81.46 and a 200-day moving average of $79.71. The stock has a market capitalization of $30.65 billion, a price-to-earnings ratio of 15.24 and a beta of 1.40.

State Street Corp (NYSE:STT) last posted its quarterly earnings data on Wednesday, April 26th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. State Street Corp had a net margin of 20.16% and a return on equity of 12.13%. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the company posted $0.98 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities analysts predict that State Street Corp will post $5.92 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 18th. Investors of record on Monday, July 3rd will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, June 29th. This represents a $1.52 dividend on an annualized basis and a yield of 1.87%. State Street Corp’s dividend payout ratio (DPR) is presently 30.52%.

Several brokerages have issued reports on STT. Citigroup Inc lifted their price target on shares of State Street Corp from $82.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, April 11th. Jefferies Group LLC lowered shares of State Street Corp from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $89.00 to $87.00 in a research note on Tuesday, April 11th. Goldman Sachs Group Inc boosted their price objective on shares of State Street Corp from $88.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Keefe, Bruyette & Woods set a $88.00 price objective on shares of State Street Corp and gave the stock a “hold” rating in a research note on Wednesday, April 26th. Finally, Deutsche Bank AG lowered their price objective on shares of State Street Corp from $81.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, April 24th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $84.86.

In related news, insider George E. Sullivan sold 2,718 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $81.81, for a total transaction of $222,359.58. Following the completion of the sale, the insider now owns 73,090 shares in the company, valued at $5,979,492.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew Erickson sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $83.28, for a total transaction of $166,560.00. Following the sale, the insider now owns 21,523 shares of the company’s stock, valued at approximately $1,792,435.44. The disclosure for this sale can be found here. Insiders have sold 5,747 shares of company stock valued at $469,852 in the last 90 days. 0.64% of the stock is currently owned by corporate insiders.

About State Street Corp

State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “STT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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