12,355 Shares in State Street Corp (STT) Acquired by Sciencast Management LP

Sciencast Management LP bought a new position in shares of State Street Corp (NYSE:STT) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 12,355 shares of the asset manager’s stock, valued at approximately $1,247,000.

Other institutional investors also recently bought and sold shares of the company. HBK Sorce Advisory LLC bought a new position in shares of State Street during the 4th quarter worth approximately $653,000. First Trust Advisors LP lifted its position in shares of State Street by 7.9% during the 4th quarter. First Trust Advisors LP now owns 254,980 shares of the asset manager’s stock worth $24,889,000 after buying an additional 18,704 shares during the period. Deutsche Bank AG lifted its position in shares of State Street by 44.5% during the 4th quarter. Deutsche Bank AG now owns 1,075,508 shares of the asset manager’s stock worth $104,975,000 after buying an additional 331,230 shares during the period. Unio Capital LLC bought a new position in State Street in the 4th quarter valued at $532,000. Finally, Baird Financial Group Inc. raised its position in State Street by 10.9% in the 4th quarter. Baird Financial Group Inc. now owns 10,348 shares of the asset manager’s stock valued at $1,010,000 after purchasing an additional 1,015 shares during the last quarter. Institutional investors and hedge funds own 87.98% of the company’s stock.

STT stock opened at $97.90 on Thursday. The firm has a market cap of $36.63 billion, a PE ratio of 16.43, a PEG ratio of 1.29 and a beta of 1.27. State Street Corp has a twelve month low of $86.80 and a twelve month high of $114.27. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.57.

State Street (NYSE:STT) last released its earnings results on Friday, April 20th. The asset manager reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.04. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3 billion. State Street had a return on equity of 14.23% and a net margin of 19.07%. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 earnings per share. equities research analysts predict that State Street Corp will post 7.78 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 17th. Stockholders of record on Monday, July 2nd will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, June 29th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.72%. State Street’s payout ratio is currently 28.19%.

In related news, EVP Karen C. Keenan sold 851 shares of State Street stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $100.78, for a total transaction of $85,763.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeff D. Conway sold 288 shares of State Street stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $100.78, for a total value of $29,024.64. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Several equities analysts have issued reports on STT shares. Deutsche Bank cut their price objective on State Street from $114.00 to $108.00 and set a “hold” rating for the company in a research report on Friday, April 6th. ValuEngine downgraded State Street from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Sandler O’Neill reiterated a “hold” rating and issued a $104.00 price objective on shares of State Street in a research report on Monday, April 9th. Zacks Investment Research upgraded State Street from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Thursday, May 3rd. Finally, Keefe, Bruyette & Woods set a $115.00 price objective on State Street and gave the company a “buy” rating in a research report on Wednesday, April 4th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. State Street currently has an average rating of “Buy” and a consensus price target of $111.29.

State Street Company Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company 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.

Want to see what other hedge funds are holding STT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for State Street Corp (NYSE:STT).

Institutional Ownership by Quarter for State Street (NYSE:STT)

Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply