Peoples Financial Services CORP. lifted its position in State Street Corp (NYSE:STT) by 70.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,618 shares of the asset manager’s stock after acquiring an additional 1,500 shares during the period. Peoples Financial Services CORP.’s holdings in State Street were worth $203,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Kaizen Advisory LLC increased its position in State Street by 18.0% during the 4th quarter. Kaizen Advisory LLC now owns 1,044 shares of the asset manager’s stock valued at $66,000 after buying an additional 159 shares in the last quarter. Sowell Financial Services LLC increased its position in State Street by 3.2% during the 4th quarter. Sowell Financial Services LLC now owns 5,514 shares of the asset manager’s stock valued at $348,000 after buying an additional 172 shares in the last quarter. Guinness Asset Management Ltd increased its position in State Street by 5.4% during the 1st quarter. Guinness Asset Management Ltd now owns 3,910 shares of the asset manager’s stock valued at $257,000 after buying an additional 200 shares in the last quarter. Norinchukin Bank The increased its position in State Street by 0.7% during the 1st quarter. Norinchukin Bank The now owns 29,898 shares of the asset manager’s stock valued at $1,968,000 after buying an additional 200 shares in the last quarter. Finally, Resources Investment Advisors Inc. increased its position in State Street by 28.7% during the 1st quarter. Resources Investment Advisors Inc. now owns 919 shares of the asset manager’s stock valued at $60,000 after buying an additional 205 shares in the last quarter. 89.59% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on STT shares. UBS Group raised their price objective on T. Rowe Price Group from $109.00 to $111.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. Raymond James lifted their target price on Franco Nevada from $94.00 to $98.00 and gave the stock an “outperform” rating in a report on Monday. Royal Bank of Canada reduced their target price on from GBX 845 ($11.04) to GBX 800 ($10.45) and set an “outperform” rating for the company in a report on Wednesday, June 19th. Bank of America set a $20.00 target price on Fiat Chrysler Automobiles and gave the stock a “hold” rating in a report on Thursday, June 6th. Finally, Wells Fargo & Co set a $32.00 target price on Farfetch and gave the stock a “buy” rating in a report on Wednesday, June 12th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. State Street currently has an average rating of “Hold” and an average target price of $70.77.
In other news, EVP Jeffrey N. Carp sold 25,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $63.22, for a total value of $1,580,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gregory L. Summe purchased 3,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was purchased at an average price of $64.50 per share, for a total transaction of $193,500.00. The disclosure for this purchase can be found here. Company insiders own 0.40% of the company’s stock.
Shares of STT stock traded up $0.67 on Tuesday, reaching $59.90. The stock had a trading volume of 3,321,400 shares, compared to its average volume of 2,905,618. The firm has a market cap of $22.42 billion, a PE ratio of 8.30, a P/E/G ratio of 0.96 and a beta of 1.40. State Street Corp has a 1 year low of $53.53 and a 1 year high of $90.20. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.45 and a current ratio of 0.48. The stock’s 50 day simple moving average is $56.11.
State Street (NYSE:STT) last released its quarterly earnings results on Friday, July 19th. The asset manager reported $1.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.05. The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.86 billion. State Street had a return on equity of 12.13% and a net margin of 17.66%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period last year, the business posted $2.05 EPS. As a group, sell-side analysts predict that State Street Corp will post 5.85 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Monday, July 1st were paid a $0.47 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.14%. State Street’s dividend payout ratio (DPR) is currently 26.04%.
State Street Profile
State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
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