Natixis Advisors L.P. raised its stake in shares of State Street Corp (NYSE:STT) by 8.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,174 shares of the asset manager’s stock after purchasing an additional 15,531 shares during the period. Natixis Advisors L.P. owned 0.05% of State Street worth $19,166,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of STT. Steward Partners Investment Advisory LLC lifted its holdings in State Street by 502.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,101 shares of the asset manager’s stock valued at $595,000 after purchasing an additional 5,089 shares in the last quarter. James Investment Research Inc. lifted its holdings in State Street by 5.6% during the fourth quarter. James Investment Research Inc. now owns 18,700 shares of the asset manager’s stock valued at $1,825,000 after purchasing an additional 1,000 shares in the last quarter. Denali Advisors LLC lifted its holdings in State Street by 267.3% during the fourth quarter. Denali Advisors LLC now owns 45,600 shares of the asset manager’s stock valued at $4,451,000 after purchasing an additional 33,185 shares in the last quarter. Advisors Capital Management LLC lifted its stake in shares of State Street by 9.1% in the fourth quarter. Advisors Capital Management LLC now owns 25,643 shares of the asset manager’s stock worth $2,503,000 after buying an additional 2,140 shares in the last quarter. Finally, Field & Main Bank purchased a new position in shares of State Street in the fourth quarter worth about $210,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on STT. Zacks Investment Research upgraded shares of State Street from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Thursday, May 3rd. Deutsche Bank upgraded shares of State Street from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research report on Monday, April 23rd. Sandler O’Neill restated a “hold” rating and set a $104.00 price objective on shares of State Street in a research report on Monday, April 9th. Keefe, Bruyette & Woods set a $115.00 price objective on shares of State Street and gave the stock a “buy” rating in a research report on Wednesday, April 4th. Finally, ValuEngine cut shares of State Street from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $110.27.
State Street (NYSE:STT) last announced its quarterly earnings data on Friday, April 20th. The asset manager reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.04. The firm had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3 billion. State Street had a net margin of 19.07% and a return on equity of 14.23%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 earnings per share. research analysts predict that State Street Corp will post 7.78 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 17th. Investors of record on Monday, July 2nd will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, June 29th. This represents a $1.68 dividend on an annualized basis and a yield of 1.67%. State Street’s dividend payout ratio is currently 28.19%.
In related news, insider Jeff D. Conway sold 288 shares of State Street stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $100.78, for a total value of $29,024.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Elizabeth Schaefer sold 1,473 shares of State Street stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $105.00, for a total transaction of $154,665.00. Following the completion of the transaction, the chief accounting officer now owns 9,362 shares of the company’s stock, valued at approximately $983,010. The disclosure for this sale can be found here. Insiders sold 12,860 shares of company stock valued at $1,377,980 in the last quarter. 0.40% of the stock is owned by insiders.
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; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; 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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