State Street Corp (STT) Position Increased by Nordea Investment Management AB

Nordea Investment Management AB raised its stake in shares of State Street Corp (NYSE:STT) by 2.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 325,362 shares of the asset manager’s stock after buying an additional 8,422 shares during the quarter. Nordea Investment Management AB owned about 0.09% of State Street worth $20,521,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Strategic Wealth Partners Ltd. grew its holdings in State Street by 1,038.7% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 353 shares of the asset manager’s stock valued at $30,000 after buying an additional 322 shares in the last quarter. Pearl River Capital LLC purchased a new position in shares of State Street during the fourth quarter worth about $25,000. Certified Advisory Corp grew its holdings in shares of State Street by 125.0% during the fourth quarter. Certified Advisory Corp now owns 450 shares of the asset manager’s stock worth $28,000 after purchasing an additional 250 shares in the last quarter. Moody National Bank Trust Division grew its holdings in shares of State Street by 199.4% during the fourth quarter. Moody National Bank Trust Division now owns 470 shares of the asset manager’s stock worth $30,000 after purchasing an additional 313 shares in the last quarter. Finally, Bartlett & Co. LLC grew its holdings in shares of State Street by 56.3% during the fourth quarter. Bartlett & Co. LLC now owns 555 shares of the asset manager’s stock worth $35,000 after purchasing an additional 200 shares in the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.

STT stock traded up $0.33 during midday trading on Friday, hitting $69.96. The company had a trading volume of 1,799,076 shares, compared to its average volume of 1,605,048. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. State Street Corp has a 52 week low of $57.87 and a 52 week high of $104.33. The company has a market capitalization of $26.38 billion, a P/E ratio of 9.69, a PEG ratio of 1.19 and a beta of 1.38.

State Street (NYSE:STT) last announced its earnings results on Friday, January 18th. The asset manager reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.01. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.96 billion. State Street had a return on equity of 14.44% and a net margin of 20.05%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 earnings per share. As a group, equities analysts predict that State Street Corp will post 6.73 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, March 29th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.69%. State Street’s dividend payout ratio is presently 26.04%.

Several analysts have issued reports on STT shares. Zacks Investment Research lowered State Street from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. ValuEngine lowered State Street from a “sell” rating to a “strong sell” rating in a research note on Friday, March 1st. Evercore ISI raised State Street from an “in-line” rating to an “outperform” rating and set a $64.99 target price for the company in a research note on Tuesday, January 8th. Goldman Sachs Group lowered State Street from a “buy” rating to a “neutral” rating and set a $71.30 target price for the company. in a research note on Tuesday, January 22nd. Finally, Keefe, Bruyette & Woods lowered State Street from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $72.00 to $70.00 in a research note on Sunday, February 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $84.78.

In other State Street news, EVP Andrew P. Kuritzkes sold 13,339 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $72.10, for a total value of $961,741.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Erickson sold 861 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $69.45, for a total value of $59,796.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,389 shares of company stock valued at $5,300,338. 0.40% of the stock is owned by corporate insiders.

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State Street Profile

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 and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; 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.

Read More: Intrinsic Value

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

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