SG Americas Securities LLC Acquires 64,254 Shares of State Street Corp (NYSE:STT)

SG Americas Securities LLC lifted its holdings in shares of State Street Corp (NYSE:STT) by 108.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,402 shares of the asset manager’s stock after acquiring an additional 64,254 shares during the period. SG Americas Securities LLC’s holdings in State Street were worth $6,918,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. CIBC World Markets Inc. grew its position in State Street by 58.5% in the 1st quarter. CIBC World Markets Inc. now owns 16,699 shares of the asset manager’s stock worth $1,099,000 after purchasing an additional 6,165 shares in the last quarter. Arizona State Retirement System grew its position in shares of State Street by 9.8% during the 2nd quarter. Arizona State Retirement System now owns 106,707 shares of the asset manager’s stock valued at $5,982,000 after acquiring an additional 9,524 shares during the period. Goelzer Investment Management Inc. bought a new position in shares of State Street during the 1st quarter valued at approximately $316,000. Harvest Group Wealth Management LLC bought a new position in shares of State Street during the 1st quarter valued at approximately $28,000. Finally, Rothschild & Co. Asset Management US Inc. grew its position in shares of State Street by 0.6% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 804,362 shares of the asset manager’s stock valued at $52,935,000 after acquiring an additional 4,529 shares during the period. 89.34% of the stock is owned by institutional investors.

Shares of State Street stock traded down $0.45 on Friday, hitting $52.96. 2,360,217 shares of the company traded hands, compared to its average volume of 3,707,369. The company’s 50-day simple moving average is $56.47. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $19.90 billion, a P/E ratio of 7.34, a P/E/G ratio of 0.86 and a beta of 1.43. State Street Corp has a 12-month low of $51.34 and a 12-month high of $90.20.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, July 19th. The asset manager reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.05. The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.86 billion. State Street had a net margin of 17.66% and a return on equity of 12.13%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the company posted $2.05 EPS. Research analysts forecast that State Street Corp will post 5.8 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Monday, July 1st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Friday, June 28th. State Street’s dividend payout ratio (DPR) is currently 26.04%.

A number of research firms have recently weighed in on STT. Morgan Stanley downgraded shares of State Street from an “overweight” rating to an “underweight” rating and reduced their target price for the company from $69.00 to $55.00 in a research report on Monday, July 8th. ValuEngine cut shares of State Street from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Royal Bank of Canada dropped their price target on shares of State Street from $80.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Wednesday, June 19th. Bank of America restated a “buy” rating and set a $65.00 price target (down from $75.00) on shares of State Street in a research note on Thursday, June 6th. Finally, UBS Group upped their price target on shares of State Street from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $68.42.

In other news, EVP Jeffrey N. Carp sold 25,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $63.22, for a total transaction of $1,580,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Saint-Aignan Patrick De acquired 500 shares of the stock in a transaction dated Monday, July 22nd. The shares were bought at an average price of $58.85 per share, for a total transaction of $29,425.00. Following the transaction, the director now owns 28,793 shares in the company, valued at approximately $1,694,468.05. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 3,500 shares of company stock worth $199,745. Corporate insiders own 0.40% of the company’s stock.

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

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