Oak Associates Ltd. OH Has $8.07 Million Position in State Street Corporation $STT

Oak Associates Ltd. OH cut its stake in shares of State Street Corporation (NYSE:STT) by 10.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,793 shares of the asset manager’s stock after selling 7,324 shares during the quarter. Oak Associates Ltd. OH’s holdings in State Street were worth $8,074,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of STT. Brighton Jones LLC bought a new position in shares of State Street during the 4th quarter worth about $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in State Street by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock valued at $2,885,000 after buying an additional 918 shares in the last quarter. NewEdge Advisors LLC increased its position in State Street by 105.2% in the 1st quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock valued at $913,000 after buying an additional 5,226 shares in the last quarter. Empowered Funds LLC raised its stake in State Street by 220.1% during the 1st quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock worth $2,065,000 after buying an additional 15,996 shares during the period. Finally, Woodline Partners LP raised its stake in State Street by 38.4% during the 1st quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock worth $2,182,000 after buying an additional 6,767 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at State Street

In other news, EVP Michael L. Richards sold 1,500 shares of the company’s stock in a transaction 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 owned 41,827 shares in the company, valued at $6,781,829.78. This represents a 3.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP W. Bradford Hu sold 9,212 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total transaction of $1,431,084.20. Following the completion of the sale, the executive vice president owned 59,552 shares of the company’s stock, valued at approximately $9,251,403.20. This represents a 13.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 25,265 shares of company stock worth $3,935,103. Corporate insiders own 0.27% of the company’s stock.

State Street Stock Performance

Shares of STT opened at $184.10 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.59. The stock has a 50 day moving average price of $168.41 and a two-hundred day moving average price of $145.71. The firm has a market capitalization of $50.95 billion, a P/E ratio of 16.23, a P/E/G ratio of 0.77 and a beta of 1.42. State Street Corporation has a 52 week low of $104.64 and a 52 week high of $192.51.

State Street (NYSE:STT) last posted 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 analyst estimates of $3.88 billion. State Street had a return on equity of 15.26% and a net margin of 15.02%.The company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the company earned $2.04 earnings per share. Equities analysts forecast that State Street Corporation will post 13.68 earnings per share for the current fiscal year.

State Street Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Investors 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 an increase from State Street’s previous quarterly dividend of $0.84. State Street’s payout ratio is currently 29.63%.

Analyst Ratings Changes

A number of equities research analysts have commented on STT shares. Royal Bank Of Canada raised their price objective on State Street from $155.00 to $196.00 and gave the company a “sector perform” rating in a research note on Friday, July 17th. Barclays upped their target price on State Street from $165.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. JPMorgan Chase & Co. increased their target price on State Street from $158.50 to $176.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. Weiss Ratings raised shares of State Street from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, May 28th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of State Street from $195.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Two 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $184.72.

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.