Klingenstein Fields & Co. LLC Holds Position in State Street Corporation (STT)

Klingenstein Fields & Co. LLC Holds Position in State Street Corporation (STT)

Klingenstein Fields & Co. LLC held its stake in State Street Corporation (NYSE:STT) during the third quarter, Holdings Channel reports. The institutional investor owned 7,862 shares of the company’s stock at the end of the third quarter. Klingenstein Fields & Co. LLC’s holdings in State Street Corporation were worth $547,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in STT. Advisory Services Network LLC boosted its stake in State Street Corporation by 4.4% in the second quarter. Advisory Services Network LLC now owns 2,154 shares of the company’s stock worth $116,000 after buying an additional 90 shares during the last quarter. Euclid Advisors LLC bought a new stake in State Street Corporation during the second quarter worth $147,000. Community Bank N.A. boosted its stake in State Street Corporation by 0.8% in the third quarter. Community Bank N.A. now owns 2,334 shares of the company’s stock worth $163,000 after buying an additional 19 shares during the last quarter. NEXT Financial Group Inc boosted its stake in State Street Corporation by 197.4% in the third quarter. NEXT Financial Group Inc now owns 2,364 shares of the company’s stock worth $165,000 after buying an additional 1,569 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd bought a new stake in State Street Corporation during the second quarter worth $167,000. 86.24% of the stock is currently owned by institutional investors.

State Street Corporation (NYSE:STT) opened at 76.00 on Friday. The company has a 50-day moving average of $79.68 and a 200-day moving average of $72.31. State Street Corporation has a 52-week low of $50.60 and a 52-week high of $83.49. The stock has a market capitalization of $29.03 billion, a price-to-earnings ratio of 13.67 and a beta of 1.35.

State Street Corporation (NYSE:STT) last released its earnings results on Wednesday, January 25th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.16. The company earned $2.50 billion during the quarter, compared to analysts’ expectations of $2.78 billion. State Street Corporation had a return on equity of 12.13% and a net margin of 20.16%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 EPS. Equities research analysts expect that State Street Corporation will post $5.80 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 18th. Stockholders of record on Tuesday, January 3rd were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Thursday, December 29th. State Street Corporation’s dividend payout ratio (DPR) is currently 30.52%.

STT has been the topic of a number of research analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $81.00 price objective on shares of State Street Corporation in a report on Tuesday, November 1st. Barclays PLC reissued a “buy” rating and set a $71.00 price objective on shares of State Street Corporation in a report on Tuesday, October 11th. Zacks Investment Research raised shares of State Street Corporation from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Monday, November 28th. Goldman Sachs Group, Inc. (The) raised shares of State Street Corporation from a “neutral” rating to a “buy” rating in a report on Wednesday, January 4th. Finally, Morgan Stanley raised shares of State Street Corporation from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $64.00 to $84.00 in a report on Monday, November 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $77.33.

In related news, EVP Karen C. Keenan sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 20th. The stock was sold at an average price of $79.12, for a total transaction of $79,120.00. Following the sale, the executive vice president now directly owns 46,229 shares of the company’s stock, valued at approximately $3,657,638.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey N. Carp sold 2,926 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $77.38, for a total value of $226,413.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,980 shares of company stock valued at $309,723. Company insiders own 0.64% of the company’s stock.

About State Street Corporation

State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world.

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