Reilly Financial Advisors LLC grew its position in shares of State Street Corp (NYSE:STT) by 91.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 627 shares of the asset manager’s stock after acquiring an additional 300 shares during the quarter. Reilly Financial Advisors LLC’s holdings in State Street were worth $37,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its position in State Street by 25.7% during the 2nd quarter. First Trust Advisors LP now owns 547,096 shares of the asset manager’s stock worth $30,670,000 after acquiring an additional 111,924 shares during the last quarter. Arizona State Retirement System boosted its position in State Street by 9.8% during the 2nd quarter. Arizona State Retirement System now owns 106,707 shares of the asset manager’s stock worth $5,982,000 after acquiring an additional 9,524 shares during the last quarter. Asahi Life Asset Management CO. LTD. acquired a new position in State Street during the 2nd quarter worth approximately $318,000. GSA Capital Partners LLP acquired a new position in State Street during the 2nd quarter worth approximately $877,000. Finally, Arjuna Capital boosted its position in State Street by 65.7% during the 2nd quarter. Arjuna Capital now owns 13,041 shares of the asset manager’s stock worth $731,000 after acquiring an additional 5,173 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.
NYSE STT opened at $59.11 on Thursday. The company has a market cap of $21.79 billion, a PE ratio of 8.19, a PEG ratio of 0.96 and a beta of 1.51. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.52. State Street Corp has a 12 month low of $48.62 and a 12 month high of $83.22. The stock has a 50 day moving average of $56.67 and a 200-day moving average of $58.77.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Monday, September 30th. This is a boost from State Street’s previous quarterly dividend of $0.47. State Street’s dividend payout ratio is 28.81%.
A number of equities analysts have weighed in on the company. Morgan Stanley reduced their price target on State Street from $58.00 to $55.00 and set an “underweight” rating for the company in a research report on Friday, October 4th. UBS Group upped their price target on State Street from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Raymond James reduced their price target on State Street from $72.00 to $69.00 and set a “strong-buy” rating for the company in a research report on Friday, October 11th. Royal Bank of Canada reduced their price target on State Street from $80.00 to $65.00 and set a “sector perform” rating for the company in a research report on Wednesday, June 19th. Finally, Wells Fargo & Co set a $55.00 price objective on State Street and gave the company a “hold” rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. State Street has an average rating of “Hold” and an average price target of $67.55.
In other State Street news, Director Saint-Aignan Patrick De purchased 1,500 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average price of $57.75 per share, for a total transaction of $86,625.00. Following the purchase, the director now owns 29,293 shares in the company, valued at $1,691,670.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey N. Carp sold 25,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $51.72, for a total value of $1,293,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 11,000 shares of company stock worth $577,375. 0.40% of the stock is owned by company insiders.
State Street Profile
State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It 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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