4,000 Shares in State Street Corporation $STT Bought by Core Capital Management & Research inc.

Core Capital Management & Research inc. acquired a new stake in shares of State Street Corporation (NYSE:STT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,000 shares of the asset manager’s stock, valued at approximately $749,000.

A number of other institutional investors also recently bought and sold shares of the company. California State Teachers Retirement System lifted its stake in shares of State Street by 16,194.0% in the 2nd quarter. California State Teachers Retirement System now owns 76,843,386 shares of the asset manager’s stock worth $13,032,638,000 after purchasing an additional 76,371,782 shares during the period. BlackRock Inc. bought a new stake in State Street during the second quarter valued at approximately $4,139,389,000. Regents of The University of California grew its position in State Street by 15.6% during the first quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager’s stock valued at $1,273,841,000 after buying an additional 1,358,923 shares during the period. Morgan Stanley increased its holdings in State Street by 9.0% during the fourth quarter. Morgan Stanley now owns 5,222,382 shares of the asset manager’s stock valued at $673,740,000 after buying an additional 433,201 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in State Street by 30.8% during the fourth quarter. Victory Capital Management Inc. now owns 4,559,546 shares of the asset manager’s stock valued at $588,227,000 after buying an additional 1,074,174 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on STT. Evercore set a $200.00 price target on shares of State Street in a research note on Monday, July 20th. Morgan Stanley upped their price objective on State Street from $183.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Royal Bank Of Canada raised their target price on State Street from $155.00 to $196.00 and gave the stock a “sector perform” rating in a report on Friday, July 17th. Weiss Ratings reiterated a “buy (b+)” rating on shares of State Street in a research report on Tuesday, August 25th. Finally, Bank of America boosted their price target on State Street from $160.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $185.38.

State Street Stock Performance

Shares of NYSE STT opened at $192.03 on Thursday. The firm has a fifty day moving average price of $185.90 and a 200-day moving average price of $159.65. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market cap of $52.75 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 0.91 and a beta of 1.41. State Street Corporation has a 1 year low of $104.64 and a 1 year high of $195.93.

State Street (NYSE:STT) last released its earnings results on Thursday, July 16th. The asset manager reported $3.65 earnings per share for the quarter, beating analysts’ consensus estimates of $3.34 by $0.31. The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.88 billion. State Street had a net margin of 15.02% and a return on equity of 15.26%. State Street’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.04 EPS. Equities analysts anticipate that State Street Corporation will post 13.76 earnings per share for the current fiscal year.

State Street Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.92 per share. This is a boost from State Street’s previous quarterly dividend of $0.84. This represents a $3.68 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, October 1st. State Street’s payout ratio is 29.63%.

Insider Activity

In related news, EVP W. Hu sold 9,758 shares of State Street stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $184.52, for a total transaction of $1,800,546.16. Following the sale, the executive vice president owned 49,794 shares of the company’s stock, valued at approximately $9,187,988.88. This trade represents a 16.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hanley Ronald P. O sold 14,553 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $184.17, for a total value of $2,680,226.01. Following the completion of the transaction, the chief executive officer directly owned 240,959 shares in the company, valued at approximately $44,377,419.03. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.27% of the stock is owned by insiders.

State Street Company Profile

State Street Corporation is a financial services company headquartered in Boston, Massachusetts. Founded in 1792, it serves institutional investors, asset managers, asset owners, insurance companies, official institutions and other financial organizations worldwide.

Through its investment servicing business, State Street provides custody and fund administration, accounting, transfer agency, middle-office outsourcing, collateral management, performance measurement and regulatory reporting services.