Quantinno Capital Management LP Has $73.69 Million Position in State Street Corporation $STT

Quantinno Capital Management LP increased its stake in shares of State Street Corporation (NYSE:STT) by 32.7% during the 1st quarter, Holdings Channel reports. The fund owned 582,239 shares of the asset manager’s stock after acquiring an additional 143,357 shares during the period. Quantinno Capital Management LP’s holdings in State Street were worth $73,688,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of STT. Wilkerson Advisory Group LLC bought a new stake in State Street in the fourth quarter valued at $29,000. JPL Wealth Management LLC acquired a new position in shares of State Street during the third quarter valued at about $29,000. Phillip James Consulting Co. bought a new position in shares of State Street during the 4th quarter worth about $30,000. Whipplewood Advisors LLC bought a new position in shares of State Street during the 1st quarter worth about $34,000. Finally, Reflection Asset Management acquired a new stake in shares of State Street in the 4th quarter valued at about $35,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on STT. Zacks Research raised State Street from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Barclays increased their price target on State Street from $165.00 to $200.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Wells Fargo & Company raised their price objective on State Street from $196.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Bank of America boosted their price objective on State Street from $160.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Finally, Morgan Stanley upped their target price on State Street from $183.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $184.72.

State Street Price Performance

Shares of NYSE STT opened at $182.77 on Wednesday. The stock has a market cap of $50.59 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 0.76 and a beta of 1.42. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.59. State Street Corporation has a fifty-two week low of $104.64 and a fifty-two week high of $192.51. The firm’s 50-day simple moving average is $170.32 and its 200 day simple moving average is $146.79.

State Street (NYSE:STT) last issued its quarterly earnings data on Thursday, July 16th. The asset manager reported $3.65 earnings per share for the quarter, beating 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 business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.88 billion. During the same period last year, the business earned $2.04 EPS. The business’s revenue was up 23.3% on a year-over-year basis. As a group, research analysts anticipate that State Street Corporation will post 13.68 earnings per share for the current fiscal year.

State Street Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Thursday, October 1st will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, October 1st. This is a positive change from State Street’s previous quarterly dividend of $0.84. State Street’s payout ratio is currently 29.63%.

Insider Buying and Selling at State Street

In other State Street news, CEO Hanley Ronald P. O sold 14,553 shares of the stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $184.17, for a total value of $2,680,226.01. Following the completion of the sale, the chief executive officer owned 240,959 shares in the company, valued at approximately $44,377,419.03. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Bradford 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 transaction, the executive vice president directly owned 49,794 shares in the company, valued at approximately $9,187,988.88. This represents a 16.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 49,576 shares of company stock worth $8,415,875. Insiders own 0.27% of the company’s stock.

State Street Company 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.