State Street Corporation $STT Stock Position Lifted by Arbejdsmarkedets Tillaegspension

Arbejdsmarkedets Tillaegspension raised its position in shares of State Street Corporation (NYSE:STT) by 8.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 200,638 shares of the asset manager’s stock after purchasing an additional 16,277 shares during the period. Arbejdsmarkedets Tillaegspension’s holdings in State Street were worth $25,393,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Nordea Investment Management AB increased its holdings in shares of State Street by 15.4% during the fourth quarter. Nordea Investment Management AB now owns 2,829,271 shares of the asset manager’s stock valued at $367,041,000 after purchasing an additional 377,568 shares during the period. Clean Yield Group grew its position in State Street by 8,247.4% in the 4th quarter. Clean Yield Group now owns 19,199 shares of the asset manager’s stock valued at $2,477,000 after buying an additional 18,969 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in State Street in the 4th quarter valued at about $1,959,000. IFM Investors Pty Ltd increased its stake in shares of State Street by 9.7% during the first quarter. IFM Investors Pty Ltd now owns 84,534 shares of the asset manager’s stock valued at $10,699,000 after acquiring an additional 7,469 shares during the period. Finally, Heritage Family Offices LLP bought a new stake in shares of State Street in the 4th quarter worth $1,220,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on STT. Royal Bank Of Canada increased their target price on shares of State Street from $135.00 to $155.00 and gave the company a “sector perform” rating in a research note on Monday, April 20th. Argus boosted their target price on State Street from $140.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Zacks Research lowered shares of State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Citigroup upped their price target on shares of State Street from $172.00 to $193.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Finally, The Goldman Sachs Group raised their price target on State Street from $168.00 to $194.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $173.91.

Key Headlines Impacting State Street

Here are the key news stories impacting State Street this week:

• Positive Sentiment: State Street was upgraded to a Zacks Rank #2 (Buy), reflecting stronger earnings outlooks and improving sentiment heading into earnings. All You Need to Know About State Street (STT) Rating Upgrade to Buy
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on State Street to $195 from $175 and maintained an outperform rating, suggesting meaningful upside from recent levels. State Street (NYSE:STT) Given New $195.00 Price Target at Keefe, Bruyette & Woods
• Positive Sentiment: Analysts are revising expectations higher ahead of Q2 results, with consensus pointing to earnings growth and the possibility of a beat if State Street delivers on estimates. Top Wall Street Forecasters Revamp State Street Expectations Ahead Of Q2 Earnings
• Neutral Sentiment: State Street is expected to report quarterly earnings next week, and investors are focused on whether the company can confirm the improved outlook with actual results. State Street (STT) to Release Earnings on Thursday
• Neutral Sentiment: Coverage noting renewed analyst optimism and upgraded estimates may reinforce the bullish setup, but it does not add new company-specific fundamentals by itself. How Investors May Respond To State Street (STT) Renewed Analyst Optimism And Upgraded Earnings Estimates

State Street Stock Up 0.1%

Shares of STT opened at $180.47 on Monday. The stock has a market cap of $49.95 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 0.93 and a beta of 1.42. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.04. State Street Corporation has a 12 month low of $101.98 and a 12 month high of $183.32. The company has a 50-day moving average price of $162.52 and a two-hundred day moving average price of $142.37.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.20. State Street had a return on equity of 14.22% and a net margin of 13.47%.The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period in the prior year, the company posted $2.04 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. Equities analysts predict that State Street Corporation will post 12.75 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, July 1st. State Street’s dividend payout ratio is 34.08%.

Insider Buying and Selling

In other news, EVP Michael L. Richards sold 3,000 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the sale, the executive vice president owned 43,522 shares of the company’s stock, valued at approximately $6,697,600.58. This represents a 6.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mostapha Tahiri sold 9,611 shares of the stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $152.93, for a total transaction of $1,469,810.23. Following the sale, the chief operating officer owned 64,642 shares of the company’s stock, valued at $9,885,701.06. This trade represents a 12.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 37,876 shares of company stock valued at $5,866,583. 0.27% of the stock is owned by 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.