OMERS ADMINISTRATION Corp Purchases 5,147 Shares of State Street Corporation $STT

OMERS ADMINISTRATION Corp lifted its holdings in State Street Corporation (NYSE:STT) by 18.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,664 shares of the asset manager’s stock after purchasing an additional 5,147 shares during the period. OMERS ADMINISTRATION Corp’s holdings in State Street were worth $4,261,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. IFM Investors Pty Ltd raised its holdings in State Street by 9.7% in the 1st quarter. IFM Investors Pty Ltd now owns 84,534 shares of the asset manager’s stock valued at $10,699,000 after acquiring an additional 7,469 shares in the last quarter. Clean Yield Group lifted its holdings in shares of State Street by 8,247.4% during the fourth quarter. Clean Yield Group now owns 19,199 shares of the asset manager’s stock valued at $2,477,000 after acquiring an additional 18,969 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in shares of State Street during the 4th quarter worth about $1,959,000. New York State Teachers Retirement System increased its position in shares of State Street by 9.7% during the 1st quarter. New York State Teachers Retirement System now owns 303,919 shares of the asset manager’s stock worth $38,464,000 after purchasing an additional 26,862 shares in the last quarter. Finally, Campbell Newman Asset Management Inc. bought a new position in State Street during the 4th quarter valued at about $21,515,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Price Performance

Shares of STT opened at $184.59 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 1.04. State Street Corporation has a twelve month low of $104.64 and a twelve month high of $192.51. The company has a 50 day moving average of $169.67 and a 200-day moving average of $146.44. The stock has a market capitalization of $51.09 billion, a P/E ratio of 16.28, a P/E/G ratio of 0.77 and a beta of 1.42.

State Street (NYSE:STT) last posted its quarterly earnings results on Thursday, July 16th. The asset manager reported $3.65 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.31. State Street had a return on equity of 15.26% and a net margin of 15.02%.The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same quarter in the previous year, the firm earned $2.04 EPS. The business’s quarterly revenue was up 23.3% on a year-over-year basis. As a group, equities research analysts forecast that State Street Corporation will post 13.68 EPS for the current fiscal year.

State Street Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Thursday, October 1st will be paid a $0.92 dividend. This is an increase from State Street’s previous quarterly dividend of $0.84. The ex-dividend date is Thursday, October 1st. This represents a $3.68 annualized dividend and a yield of 2.0%. State Street’s dividend payout ratio (DPR) is 32.45%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. The Goldman Sachs Group boosted their price objective on State Street from $168.00 to $194.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Argus raised their price target on State Street from $140.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their target price on shares of State Street from $158.50 to $176.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. Royal Bank Of Canada boosted their target price on State Street from $155.00 to $196.00 and gave the stock a “sector perform” rating in a research report on Friday, July 17th. Finally, Barclays upped their price objective on shares of State Street from $165.00 to $200.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $184.72.

Insider Activity at State Street

In other State Street news, EVP W. Bradford Hu sold 9,212 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total value of $1,431,084.20. Following the sale, the executive vice president owned 59,552 shares in the company, valued at $9,251,403.20. This represents a 13.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael L. Richards sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $162.14, for a total value of $243,210.00. Following the completion of the sale, the executive vice president directly owned 41,827 shares of the company’s stock, valued at approximately $6,781,829.78. The trade was a 3.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 25,265 shares of company stock worth $3,935,103. Insiders own 0.27% of the company’s stock.

State Street Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.