3,470 Shares in State Street Corporation $STT Bought by Collaborative Fund Advisors LLC

Collaborative Fund Advisors LLC purchased a new position in State Street Corporation (NYSE:STT) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 3,470 shares of the asset manager’s stock, valued at approximately $439,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilkerson Advisory Group LLC bought a new position in shares of State Street during the 4th quarter worth about $29,000. Phillip James Consulting Co. acquired a new stake in shares of State Street in the 4th quarter valued at about $30,000. JPL Wealth Management LLC bought a new stake in State Street in the 3rd quarter valued at about $29,000. Reflection Asset Management bought a new stake in State Street in the 4th quarter valued at about $35,000. Finally, Board of the Pension Protection Fund acquired a new position in State Street during the 4th quarter worth approximately $39,000. 87.44% of the stock is owned by institutional investors.

State Street Price Performance

Shares of NYSE STT opened at $170.57 on Monday. The stock has a market cap of $47.21 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.92 and a beta of 1.42. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57. State Street Corporation has a fifty-two week low of $101.98 and a fifty-two week high of $175.46. The firm’s 50-day simple moving average is $159.83 and its 200 day simple moving average is $140.59.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.20. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.59 billion. State Street had a return on equity of 14.22% and a net margin of 13.47%.The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.04 EPS. As a group, research analysts anticipate that State Street Corporation will post 12.53 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $3.36 annualized dividend and a dividend yield of 2.0%. State Street’s payout ratio is presently 34.08%.

Insider Buying and Selling

In other State Street news, EVP Michael L. Richards sold 1,500 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $162.14, for a total transaction of $243,210.00. Following the transaction, the executive vice president directly owned 41,827 shares in the company, valued at approximately $6,781,829.78. This trade represents a 3.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP W. Bradford Hu sold 9,212 shares of State Street stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total transaction of $1,431,084.20. Following the transaction, the executive vice president directly owned 59,552 shares in the company, valued at $9,251,403.20. This represents a 13.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 37,876 shares of company stock worth $5,866,583. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

STT has been the topic of several recent research reports. Royal Bank Of Canada increased their price target on State Street from $135.00 to $155.00 and gave the stock a “sector perform” rating in a report on Monday, April 20th. Bank of America upgraded State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price objective for the company in a report on Monday, April 6th. Weiss Ratings raised State Street from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, May 28th. Argus increased 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. Finally, Zacks Research downgraded shares of State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, State Street presently has a consensus rating of “Moderate Buy” and an average target price of $166.84.

State Street Profile

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.