Systematic Financial Management LP held its position in shares of State Street Corp. (NYSE:STT) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,400 shares of the company’s stock at the end of the second quarter. Systematic Financial Management LP’s holdings in State Street Corp. were worth $291,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. acquired a new position in State Street Corp. during the second quarter worth approximately $113,000. Advisory Services Network LLC boosted its position in State Street Corp. by 4.4% in the second quarter. Advisory Services Network LLC now owns 2,154 shares of the company’s stock worth $116,000 after buying an additional 90 shares during the last quarter. Rockefeller Financial Services Inc. boosted its position in State Street Corp. by 86.3% in the second quarter. Rockefeller Financial Services Inc. now owns 2,235 shares of the company’s stock worth $121,000 after buying an additional 1,035 shares during the last quarter. Peoples Financial Services CORP. boosted its position in State Street Corp. by 7.2% in the second quarter. Peoples Financial Services CORP. now owns 2,968 shares of the company’s stock worth $160,000 after buying an additional 200 shares during the last quarter. Finally, Trust Co. of Vermont boosted its position in State Street Corp. by 23.8% in the second quarter. Trust Co. of Vermont now owns 3,376 shares of the company’s stock worth $182,000 after buying an additional 648 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.
Shares of State Street Corp. (NYSE:STT) traded up 1.07% on Tuesday, reaching $70.07. 656,374 shares of the company’s stock traded hands. The company’s 50-day moving average price is $69.52 and its 200 day moving average price is $61.92. State Street Corp. has a one year low of $50.60 and a one year high of $75.40. The firm has a market cap of $27.33 billion, a P/E ratio of 14.29 and a beta of 1.49.
State Street Corp. (NYSE:STT) last released its earnings results on Wednesday, July 27th. The company reported $1.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.20. State Street Corp. had a net margin of 20.19% and a return on equity of 11.22%. The firm earned $2.57 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the firm earned $1.36 EPS. The company’s revenue was down 1.3% compared to the same quarter last year. On average, equities analysts forecast that State Street Corp. will post $0.02 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.38 per share. This is an increase from State Street Corp.’s previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Thursday, September 29th. State Street Corp.’s dividend payout ratio is currently 27.64%.
A number of equities analysts recently commented on the company. Citigroup Inc. lifted their price target on State Street Corp. from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, July 28th. Deutsche Bank AG reiterated a “hold” rating on shares of State Street Corp. in a report on Saturday, June 4th. Zacks Investment Research upgraded State Street Corp. from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Tuesday, September 6th. Buckingham Research reiterated a “buy” rating on shares of State Street Corp. in a report on Tuesday, June 21st. Finally, Jefferies Group reiterated a “buy” rating on shares of State Street Corp. in a report on Friday, August 5th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $70.35.
In other news, EVP Karen C. Keenan sold 7,500 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $70.00, for a total transaction of $525,000.00. Following the completion of the transaction, the executive vice president now directly owns 49,547 shares of the company’s stock, valued at approximately $3,468,290. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey N. Carp sold 45,000 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $53.80, for a total transaction of $2,421,000.00. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.
About State Street Corp.
State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world.
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