Generali Asset Management SPA SGR Has $1.73 Million Stock Position in State Street Corporation $STT

Generali Asset Management SPA SGR reduced its position in shares of State Street Corporation (NYSE:STT) by 42.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,944 shares of the asset manager’s stock after selling 11,074 shares during the period. Generali Asset Management SPA SGR’s holdings in State Street were worth $1,734,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its stake in shares of State Street by 2.2% in the 2nd quarter. Nordea Investment Management AB now owns 2,273,567 shares of the asset manager’s stock valued at $241,862,000 after purchasing an additional 49,475 shares during the last quarter. Milestone Asset Management LLC bought a new position in State Street in the third quarter valued at approximately $4,048,000. Achmea Investment Management B.V. boosted its stake in State Street by 3.8% in the second quarter. Achmea Investment Management B.V. now owns 246,361 shares of the asset manager’s stock valued at $26,198,000 after acquiring an additional 9,101 shares during the last quarter. American Century Companies Inc. grew its holdings in State Street by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 378,489 shares of the asset manager’s stock worth $40,249,000 after acquiring an additional 27,425 shares during the period. Finally, Osaic Holdings Inc. raised its position in shares of State Street by 42.8% during the 2nd quarter. Osaic Holdings Inc. now owns 32,130 shares of the asset manager’s stock valued at $3,414,000 after acquiring an additional 9,625 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on STT shares. Evercore ISI raised their price target on State Street from $117.00 to $128.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Morgan Stanley reissued an “overweight” rating and issued a $168.00 target price on shares of State Street in a research note on Tuesday, December 16th. Zacks Research lowered State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. The Goldman Sachs Group upped their price target on State Street from $109.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Finally, Wells Fargo & Company increased their price target on shares of State Street from $121.00 to $129.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, State Street currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.27.

State Street Stock Up 0.1%

Shares of State Street stock opened at $129.08 on Monday. The company has a market capitalization of $36.05 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.59. The business has a 50-day moving average of $122.06 and a two-hundred day moving average of $115.24. State Street Corporation has a 1 year low of $72.81 and a 1 year high of $133.00.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, October 17th. The asset manager reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.21. State Street had a return on equity of 13.37% and a net margin of 13.14%.The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the previous year, the business posted $2.26 EPS. State Street’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities analysts predict that State Street Corporation will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Friday, January 2nd will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, January 2nd. State Street’s dividend payout ratio is 35.56%.

Insider Activity

In other news, EVP Michael L. Richards sold 1,500 shares of the stock in a transaction on Monday, October 27th. The shares were sold at an average price of $117.24, for a total transaction of $175,860.00. Following the completion of the sale, the executive vice president owned 38,626 shares of the company’s stock, valued at $4,528,512.24. This represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

About State Street

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.