107,839 Shares in State Street Corporation $STT Purchased by Nykredit A S

Nykredit A S bought a new stake in shares of State Street Corporation (NYSE:STT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 107,839 shares of the asset manager’s stock, valued at approximately $18,289,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STT. BlackRock Inc. acquired a new position in shares of State Street during the second quarter worth approximately $4,139,389,000. Regents of The University of California increased its position in State Street by 15.6% during the first quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager’s stock worth $1,273,841,000 after acquiring an additional 1,358,923 shares during the period. Morgan Stanley increased its position in State Street by 9.0% during the fourth quarter. Morgan Stanley now owns 5,222,382 shares of the asset manager’s stock worth $673,740,000 after acquiring an additional 433,201 shares during the period. Victory Capital Management Inc. raised its stake in State Street by 30.8% during the 4th quarter. Victory Capital Management Inc. now owns 4,559,546 shares of the asset manager’s stock valued at $588,227,000 after purchasing an additional 1,074,174 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in State Street by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 3,926,321 shares of the asset manager’s stock valued at $506,534,000 after purchasing an additional 67,309 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity at State Street

In other State Street news, EVP Michael Richards sold 1,500 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $162.14, for a total value of $243,210.00. Following the sale, the executive vice president directly owned 41,827 shares in the company, valued at $6,781,829.78. This represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ronald O’Hanley sold 14,553 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $184.17, for a total value of $2,680,226.01. Following the transaction, the chief executive officer owned 240,959 shares of the company’s stock, valued at $44,377,419.03. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,811 shares of company stock valued at $4,723,982 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on STT shares. Bank of America boosted their price objective on shares of State Street from $160.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their target price on State Street from $176.50 to $187.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Evercore set a $200.00 price target on State Street in a report on Monday, July 20th. Keefe, Bruyette & Woods raised their price objective on State Street from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Finally, Morgan Stanley boosted their price objective on State Street from $183.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.38.

State Street Stock Performance

NYSE:STT opened at $194.41 on Friday. State Street Corporation has a 12-month low of $104.64 and a 12-month high of $195.93. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $53.40 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 0.92 and a beta of 1.41. The firm has a 50-day moving average price of $184.53 and a 200 day moving average price of $158.08.

State Street (NYSE:STT) last released its quarterly earnings data on Thursday, July 16th. The asset manager reported $3.65 earnings per share for the quarter, beating 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 company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same period in the previous year, the business earned $2.04 earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. Research analysts anticipate that State Street Corporation will post 13.75 earnings per share for the current fiscal year.

State Street Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Thursday, October 1st will be paid a $0.92 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $3.68 annualized dividend and a yield of 1.9%. This is a positive change from State Street’s previous quarterly dividend of $0.84. State Street’s payout ratio is presently 29.63%.

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.