Healthcare of Ontario Pension Plan Trust Fund Acquires 6,493 Shares of State Street Corporation $STT

Healthcare of Ontario Pension Plan Trust Fund increased its holdings in State Street Corporation (NYSE:STT) by 7.5% during the first quarter, HoldingsChannel reports. The fund owned 92,534 shares of the asset manager’s stock after acquiring an additional 6,493 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in State Street were worth $11,711,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. JPL Wealth Management LLC bought a new position in shares of State Street in the third quarter valued at approximately $29,000. Wilkerson Advisory Group LLC purchased a new position in shares of State Street during the fourth quarter valued at approximately $29,000. Phillip James Consulting Co. purchased a new position in shares of State Street during the fourth quarter valued at approximately $30,000. Whipplewood Advisors LLC bought a new stake in State Street during the first quarter worth $34,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in State Street during the third quarter worth $35,000. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

STT stock opened at $182.77 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 1.04. The firm has a market cap of $50.59 billion, a PE ratio of 16.12, a P/E/G ratio of 0.76 and a beta of 1.42. The business has a 50 day moving average of $170.32 and a 200-day moving average of $146.79. State Street Corporation has a 12-month low of $104.64 and a 12-month high of $192.51.

State Street (NYSE:STT) last issued its quarterly earnings results on Thursday, July 16th. The asset manager reported $3.65 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.31. State Street had a return on equity of 15.26% and a net margin of 15.02%.The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same period last year, the company posted $2.04 earnings per share. State Street’s quarterly revenue was up 23.3% compared to the same quarter last year. As a group, sell-side analysts expect that State Street Corporation will post 13.68 earnings per share for the current year.

State Street Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Thursday, October 1st will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, October 1st. This is a positive change from State Street’s previous quarterly dividend of $0.84. State Street’s dividend payout ratio (DPR) is presently 29.63%.

Insider Transactions at State Street

In related news, CEO Hanley Ronald P. O sold 14,553 shares of the firm’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $184.17, for a total transaction of $2,680,226.01. Following the completion of the sale, the chief executive officer owned 240,959 shares in the company, valued at approximately $44,377,419.03. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Bradford Hu sold 9,758 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $184.52, for a total transaction of $1,800,546.16. Following the sale, the executive vice president owned 49,794 shares of the company’s stock, valued at $9,187,988.88. This trade represents a 16.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 49,576 shares of company stock worth $8,415,875 in the last ninety days. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

STT has been the subject of a number of analyst reports. Zacks Research raised State Street from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada lifted their price objective on shares of State Street from $155.00 to $196.00 and gave the stock a “sector perform” rating in a report on Friday, July 17th. Barclays upped their target price on shares of State Street from $165.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Citigroup increased their target price on shares of State Street from $193.00 to $210.00 and gave the company a “buy” rating in a report on Friday, July 17th. Finally, The Goldman Sachs Group raised their price target on shares of State Street from $168.00 to $194.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Two research analysts have 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $184.72.

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.