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.
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.
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