State Street Co. (NYSE:STT) Shares Purchased by Barings LLC

Barings LLC raised its holdings in State Street Co. (NYSE:STT) by 36.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,261 shares of the asset manager’s stock after acquiring an additional 1,418 shares during the period. Barings LLC’s holdings in State Street were worth $433,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. BlackRock Inc. boosted its stake in shares of State Street by 5.0% during the 1st quarter. BlackRock Inc. now owns 25,940,519 shares of the asset manager’s stock worth $2,179,264,000 after acquiring an additional 1,237,925 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in State Street by 108.0% in the 1st quarter. JPMorgan Chase & Co. now owns 9,426,380 shares of the asset manager’s stock valued at $791,909,000 after buying an additional 4,895,354 shares in the last quarter. Geode Capital Management LLC lifted its stake in State Street by 2.6% in the 1st quarter. Geode Capital Management LLC now owns 6,381,865 shares of the asset manager’s stock valued at $534,817,000 after buying an additional 159,847 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in State Street by 33.9% in the 1st quarter. Ameriprise Financial Inc. now owns 6,218,181 shares of the asset manager’s stock valued at $522,418,000 after buying an additional 1,575,482 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in State Street by 321.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,577,596 shares of the asset manager’s stock valued at $300,554,000 after buying an additional 2,728,816 shares in the last quarter. 89.57% of the stock is currently owned by institutional investors.

State Street stock opened at $85.74 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.54 and a current ratio of 0.54. State Street Co. has a fifty-two week low of $56.75 and a fifty-two week high of $94.64. The company has a market capitalization of $29.45 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.47 and a beta of 1.55. The firm has a 50 day moving average price of $88.03 and a 200 day moving average price of $85.46.

State Street (NYSE:STT) last issued its quarterly earnings results on Thursday, July 15th. The asset manager reported $1.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.18. State Street had a net margin of 20.21% and a return on equity of 10.67%. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the company posted $1.86 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that State Street Co. will post 7.42 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 12th. Investors of record on Friday, October 1st will be paid a dividend of $0.57 per share. This is a positive change from State Street’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, September 30th. State Street’s dividend payout ratio (DPR) is currently 31.04%.

A number of research analysts recently weighed in on the stock. Credit Suisse Group raised their price target on shares of State Street from $90.00 to $92.00 and gave the company a “neutral” rating in a research note on Monday, July 19th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of State Street from $120.00 to $111.00 and set a “buy” rating for the company in a report on Friday. Evercore ISI reiterated a “buy” rating and issued a $90.00 price objective on shares of State Street in a report on Friday, July 2nd. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Thursday, July 8th. Finally, UBS Group upgraded shares of State Street from a “neutral” rating to a “buy” rating and increased their price objective for the company from $83.00 to $95.00 in a report on Friday, July 9th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $92.92.

In related news, CEO Cyrus Taraporevala sold 4,488 shares of State Street stock in a transaction on Monday, July 26th. The shares were sold at an average price of $85.02, for a total transaction of $381,569.76. Following the sale, the chief executive officer now directly owns 104,605 shares in the company, valued at approximately $8,893,517.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.28% of the stock is owned by company insiders.

State Street Company Profile

State Street Corp. operates as a financial holding company. It conducts business primarily through State Street Bank. The company operates through following business lines: Investment Servicing and Investment Management. The Investment Servicing business offers custody, product and participant-level accounting, daily pricing and administration, master trust and master custody, 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, and performance, risk and compliance analytics.

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

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