State Street Co. (NYSE:STT) Shares Purchased by Allied Investment Advisors LLC


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Allied Investment Advisors LLC increased its holdings in shares of State Street Co. (NYSE:STT) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,913 shares of the asset manager’s stock after purchasing an additional 2,096 shares during the quarter. State Street accounts for approximately 2.5% of Allied Investment Advisors LLC’s portfolio, making the stock its 21st biggest position. Allied Investment Advisors LLC’s holdings in State Street were worth $5,873,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of State Street by 21.2% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 10,110 shares of the asset manager’s stock worth $849,000 after purchasing an additional 1,770 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of State Street by 5.6% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 29,185 shares of the asset manager’s stock worth $2,452,000 after purchasing an additional 1,554 shares during the last quarter. IFG Advisory LLC increased its position in shares of State Street by 55.6% during the 1st quarter. IFG Advisory LLC now owns 8,782 shares of the asset manager’s stock worth $737,000 after purchasing an additional 3,137 shares during the last quarter. Country Trust Bank increased its position in shares of State Street by 7.0% during the 1st quarter. Country Trust Bank now owns 353,540 shares of the asset manager’s stock worth $29,701,000 after purchasing an additional 23,102 shares during the last quarter. Finally, Burns J W & Co. Inc. NY acquired a new stake in shares of State Street during the 1st quarter worth about $225,000. 91.77% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:STT traded up $0.36 during trading on Thursday, reaching $80.50. The company had a trading volume of 42,093 shares, compared to its average volume of 2,903,465. The firm has a market capitalization of $28.06 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 1.11 and a beta of 1.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.50 and a quick ratio of 0.50. The stock’s fifty day moving average price is $83.30 and its 200 day moving average price is $73.82. State Street Co. has a fifty-two week low of $51.21 and a fifty-two week high of $87.89.

State Street (NYSE:STT) last released its earnings results on Thursday, April 15th. The asset manager reported $1.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.12. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.85 billion. State Street had a return on equity of 12.24% and a net margin of 20.75%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 earnings per share. On average, equities analysts anticipate that State Street Co. will post 6.58 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 12th. Stockholders of record on Thursday, April 1st were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Wednesday, March 31st. State Street’s payout ratio is currently 33.71%.

A number of equities analysts recently commented on the company. Morgan Stanley lowered their target price on State Street from $103.00 to $95.00 and set an “overweight” rating for the company in a report on Monday. Wolfe Research cut State Street from a “market perform” rating to an “underperform” rating and raised their target price for the company from $72.00 to $77.00 in a report on Tuesday, January 5th. Deutsche Bank Aktiengesellschaft raised their target price on State Street from $97.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, April 15th. Royal Bank of Canada raised their target price on State Street from $78.00 to $86.00 and gave the company a “sector perform” rating in a report on Wednesday, January 20th. Finally, The Goldman Sachs Group cut State Street from a “buy” rating to a “neutral” rating and lowered their target price for the company from $77.00 to $75.00 in a report on Tuesday, January 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. State Street presently has an average rating of “Hold” and a consensus target price of $82.07.

In other State Street news, EVP Michael L. Richards sold 365 shares of the business’s stock in a transaction on Monday, March 1st. The stock was sold at an average price of $74.61, for a total transaction of $27,232.65. Following the sale, the executive vice president now directly owns 24,420 shares in the company, valued at $1,821,976.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Andrew Erickson sold 11,000 shares of the business’s stock in a transaction on Friday, February 26th. The stock was sold at an average price of $73.30, for a total value of $806,300.00. Following the sale, the executive vice president now owns 58,997 shares in the company, valued at $4,324,480.10. The disclosure for this sale can be found here. Insiders have sold 11,898 shares of company stock worth $873,183 in the last ninety days. 0.28% of the stock is currently owned by corporate insiders.

About State Street

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product accounting; daily pricing and administration; master trust and master custody; depotbank; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

See Also: Preferred Stock

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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