State Street Corporation $STT Shares Acquired by Voya Investment Management LLC

Voya Investment Management LLC raised its stake in shares of State Street Corporation (NYSE:STT) by 15.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 819,096 shares of the asset manager’s stock after purchasing an additional 108,138 shares during the period. Voya Investment Management LLC owned 0.29% of State Street worth $95,023,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Brown Advisory Inc. boosted its holdings in State Street by 0.5% in the second quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock valued at $1,832,000 after acquiring an additional 93 shares during the last quarter. Security National Bank of SO Dak grew its holdings in shares of State Street by 0.5% during the 2nd quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock worth $2,289,000 after purchasing an additional 105 shares during the period. Harbour Investments Inc. increased its position in State Street by 11.7% during the 2nd quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock worth $108,000 after purchasing an additional 106 shares in the last quarter. McAdam LLC raised its holdings in State Street by 1.7% in the second quarter. McAdam LLC now owns 6,650 shares of the asset manager’s stock valued at $707,000 after buying an additional 111 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in State Street by 5.9% during the first quarter. Smartleaf Asset Management LLC now owns 2,257 shares of the asset manager’s stock worth $201,000 after buying an additional 126 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Stock Up 0.9%

Shares of NYSE:STT opened at $128.51 on Friday. The firm has a market cap of $35.89 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 1.18 and a beta of 1.44. The company has a fifty day simple moving average of $118.81 and a 200 day simple moving average of $112.69. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.03. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $131.36.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, October 17th. The asset manager reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.21. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.43 billion. State Street had a net margin of 13.14% and a return on equity of 13.37%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the business earned $2.26 EPS. On average, equities research analysts anticipate that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, January 2nd. This represents a $3.36 annualized dividend and a yield of 2.6%. State Street’s dividend payout ratio is presently 35.56%.

Insider Buying and Selling

In other news, EVP Michael L. Richards sold 1,500 shares of State Street stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $117.24, for a total value of $175,860.00. Following the completion of the transaction, the executive vice president owned 38,626 shares in the company, valued at approximately $4,528,512.24. This trade represents a 3.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

STT has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price on shares of State Street from $109.00 to $130.00 and gave the company a “buy” rating in a report on Monday, October 6th. Wells Fargo & Company raised their target price on State Street from $121.00 to $129.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Keefe, Bruyette & Woods boosted their price target on State Street from $132.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Citigroup increased their price objective on shares of State Street from $130.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, Zacks Research cut shares of State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $129.00.

About State Street

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.