Shelton Capital Management Sells 9,100 Shares of State Street Corp (STT)

Shelton Capital Management cut its position in State Street Corp (NYSE:STT) by 41.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,693 shares of the asset manager’s stock after selling 9,100 shares during the quarter. Shelton Capital Management’s holdings in State Street were worth $1,239,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in STT. Longview Partners Guernsey LTD increased its holdings in shares of State Street by 6.5% during the third quarter. Longview Partners Guernsey LTD now owns 8,062,726 shares of the asset manager’s stock valued at $770,313,000 after acquiring an additional 493,244 shares in the last quarter. Capital International Investors increased its holdings in shares of State Street by 63.3% during the third quarter. Capital International Investors now owns 5,771,226 shares of the asset manager’s stock valued at $551,383,000 after acquiring an additional 2,237,595 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of State Street by 44.8% during the third quarter. Artisan Partners Limited Partnership now owns 4,470,723 shares of the asset manager’s stock valued at $427,133,000 after acquiring an additional 1,383,249 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of State Street by 0.3% during the third quarter. Bank of New York Mellon Corp now owns 4,349,477 shares of the asset manager’s stock valued at $415,547,000 after acquiring an additional 13,453 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of State Street by 27.7% during the third quarter. JPMorgan Chase & Co. now owns 2,908,094 shares of the asset manager’s stock valued at $278,625,000 after acquiring an additional 630,368 shares in the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

Shares of State Street Corp (STT) opened at $100.01 on Friday. The company has a market capitalization of $36,228.23, a P/E ratio of 15.35, a P/E/G ratio of 1.64 and a beta of 1.31. State Street Corp has a 52-week low of $75.27 and a 52-week high of $114.27. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.49 and a quick ratio of 0.48.

State Street (NYSE:STT) last issued its earnings results on Tuesday, January 23rd. The asset manager reported $1.61 EPS for the quarter, missing the Zacks’ consensus estimate of $1.71 by ($0.10). The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.98 billion. State Street had a net margin of 17.94% and a return on equity of 13.41%. State Street’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 EPS. equities analysts expect that State Street Corp will post 7.51 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $1.68 annualized dividend and a yield of 1.68%. State Street’s dividend payout ratio is presently 32.12%.

In other State Street news, insider Andrew Erickson sold 354 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $92.00, for a total value of $32,568.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.71% of the company’s stock.

Several equities analysts have recently issued reports on STT shares. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a report on Tuesday, December 12th. Citigroup upgraded shares of State Street from a “neutral” rating to a “buy” rating and set a $102.00 price objective on the stock in a report on Wednesday, January 10th. Zacks Investment Research upgraded shares of State Street from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a report on Tuesday, November 14th. Morgan Stanley upped their price objective on shares of State Street from $90.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Finally, Royal Bank of Canada cut their price objective on shares of State Street from $104.00 to $95.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. State Street currently has an average rating of “Buy” and a consensus price target of $106.69.

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State Street Company Profile

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.

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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