State Street Corporation $STT Position Raised by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp raised its position in shares of State Street Corporation (NYSE:STT) by 18.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,664 shares of the asset manager’s stock after purchasing an additional 5,147 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in State Street were worth $4,261,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of STT. Chicago Partners Investment Group LLC lifted its holdings in shares of State Street by 1.6% in the fourth quarter. Chicago Partners Investment Group LLC now owns 5,351 shares of the asset manager’s stock valued at $675,000 after buying an additional 83 shares during the period. Arjuna Capital boosted its stake in State Street by 0.4% during the fourth quarter. Arjuna Capital now owns 25,139 shares of the asset manager’s stock valued at $3,243,000 after buying an additional 95 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in State Street by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 32,024 shares of the asset manager’s stock worth $4,053,000 after acquiring an additional 100 shares during the period. Bridgewater Advisors Inc. grew its holdings in State Street by 5.5% during the first quarter. Bridgewater Advisors Inc. now owns 1,945 shares of the asset manager’s stock worth $246,000 after acquiring an additional 101 shares during the period. Finally, Security National Bank of SO Dak raised its position in State Street by 0.5% in the second quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock worth $2,289,000 after acquiring an additional 105 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Trading Down 0.4%

Shares of STT opened at $184.59 on Tuesday. The business’s 50-day moving average price is $169.67 and its 200 day moving average price is $146.44. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $51.09 billion, a P/E ratio of 16.28, a P/E/G ratio of 0.77 and a beta of 1.42. State Street Corporation has a 1-year low of $104.64 and a 1-year high of $192.51.

State Street (NYSE:STT) last posted its quarterly earnings data on Thursday, July 16th. The asset manager reported $3.65 EPS for the quarter, beating analysts’ consensus estimates of $3.34 by $0.31. State Street had a net margin of 15.02% and a return on equity of 15.26%. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same period in the prior year, the firm earned $2.04 earnings per share. The business’s quarterly revenue was up 23.3% on a year-over-year basis. Analysts expect that State Street Corporation will post 13.68 earnings per share for the current year.

State Street Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.92 per share. This is a boost from State Street’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $3.68 annualized dividend and a yield of 2.0%. State Street’s dividend payout ratio (DPR) is presently 32.45%.

Insider Buying and Selling at State Street

In other State Street news, EVP Michael L. Richards sold 1,500 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $162.14, for a total value of $243,210.00. Following the transaction, the executive vice president directly owned 41,827 shares of the company’s stock, valued at $6,781,829.78. This represents a 3.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP W. Bradford Hu sold 9,212 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 59,552 shares in the company, valued at approximately $9,251,403.20. The trade was a 13.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 25,265 shares of company stock worth $3,935,103. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

STT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of State Street from $158.50 to $176.50 and gave the company a “neutral” rating in a report on Monday, July 6th. The Goldman Sachs Group boosted their target price on shares of State Street from $168.00 to $194.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. UBS Group set a $176.00 target price on shares of State Street in a research note on Friday, June 26th. Keefe, Bruyette & Woods raised their target price on shares of State Street from $195.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Finally, Evercore set a $200.00 price target on State Street in a report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $184.72.

State Street 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.