Toronto Dominion Bank Sells 42,418 Shares of State Street Co. (NYSE:STT)

by · The Markets Daily

Toronto Dominion Bank lessened its position in shares of State Street Co. (NYSE:STT – Free Report) by 20.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,688 shares of the asset manager’s stock after selling 42,418 shares during the quarter. Toronto Dominion Bank owned about 0.05% of State Street worth $10,961,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. State of Wyoming boosted its holdings in shares of State Street by 51.3% in the 2nd quarter. State of Wyoming now owns 619 shares of the asset manager’s stock valued at $45,000 after acquiring an additional 210 shares during the last quarter. Covestor Ltd boosted its holdings in State Street by 69.2% during the first quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock worth $50,000 after buying an additional 234 shares in the last quarter. IFP Advisors Inc boosted its holdings in State Street by 24.9% during the second quarter. IFP Advisors Inc now owns 733 shares of the asset manager’s stock worth $54,000 after buying an additional 146 shares in the last quarter. Savior LLC boosted its holdings in State Street by 90.4% during the third quarter. Savior LLC now owns 857 shares of the asset manager’s stock worth $57,000 after buying an additional 407 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in State Street during the first quarter worth $70,000. Institutional investors own 89.62% of the company’s stock.

Wall Street Analyst Weigh In

STT has been the subject of a number of research analyst reports. Bank of America restated an “underperform” rating and set a $81.00 price objective on shares of State Street in a research report on Thursday, January 4th. The Goldman Sachs Group upgraded shares of State Street from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $69.00 to $92.00 in a research report on Wednesday, January 3rd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $83.00 target price on shares of State Street in a research note on Wednesday, December 6th. Keefe, Bruyette & Woods lowered their price objective on shares of State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Finally, Barclays raised their price objective on shares of State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $81.83.

Read Our Latest Research Report on State Street

Insider Activity

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

State Street Stock Up 0.2 %

STT stock opened at $73.85 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.86. State Street Co. has a twelve month low of $62.78 and a twelve month high of $91.15. The company’s 50 day moving average is $74.72 and its two-hundred day moving average is $71.07. The stock has a market cap of $22.30 billion, a P/E ratio of 13.45, a PEG ratio of 1.23 and a beta of 1.52.

State Street (NYSE:STT – Get Free Report) last announced its earnings results on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.95 billion. State Street had a net margin of 10.59% and a return on equity of 11.86%. The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.07 EPS. Research analysts expect that State Street Co. will post 7.87 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Monday, April 1st will be issued a $0.69 dividend. The ex-dividend date is Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.74%. State Street’s payout ratio is 50.27%.

State Street Company Profile

(Free Report)

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.

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