Nordea Investment Management AB Increases Stock Holdings in State Street Corporation $STT

Nordea Investment Management AB grew its stake in shares of State Street Corporation (NYSE:STT) by 15.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,829,271 shares of the asset manager’s stock after purchasing an additional 377,568 shares during the quarter. Nordea Investment Management AB’s holdings in State Street were worth $367,041,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Brown Advisory Inc. increased its holdings in shares of State Street by 0.5% in the 2nd quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock valued at $1,832,000 after purchasing an additional 93 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of State Street by 38.2% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 94 shares during the period. Security National Bank of SO Dak boosted its holdings in State Street by 0.5% during the second quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock worth $2,289,000 after buying an additional 105 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in State Street by 7.7% during the third quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock worth $171,000 after buying an additional 105 shares in the last quarter. Finally, SYM FINANCIAL Corp grew its position in State Street by 4.9% during the third quarter. SYM FINANCIAL Corp now owns 2,586 shares of the asset manager’s stock worth $300,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Performance

Shares of STT opened at $121.52 on Friday. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $137.05. The stock has a market cap of $33.87 billion, a P/E ratio of 12.91, a PEG ratio of 1.07 and a beta of 1.43. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average of $127.73 and a two-hundred day moving average of $122.27.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, beating the consensus estimate of $2.82 by $0.15. State Street had a net margin of 13.02% and a return on equity of 13.46%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the business earned $2.60 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, research analysts predict that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, April 1st. State Street’s dividend payout ratio is 35.71%.

Analyst Ratings Changes

STT has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of State Street in a report on Tuesday, January 6th. Wall Street Zen raised State Street from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Loop Capital set a $144.00 price target on State Street in a report on Tuesday, January 6th. Citigroup started coverage on State Street in a research note on Monday, February 23rd. They issued a “buy” rating and a $150.00 price objective for the company. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, State Street has a consensus rating of “Moderate Buy” and an average price target of $135.83.

Insider Buying and Selling

In other State Street news, EVP John Plansky sold 16,100 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the completion of the transaction, the executive vice president owned 56,162 shares of the company’s stock, valued at approximately $6,982,059.84. This trade represents a 22.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

State Street Company 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.