41,093 Shares in State Street Corporation $STT Bought by Chase Investment Counsel Corp

Chase Investment Counsel Corp bought a new position in State Street Corporation (NYSE:STT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 41,093 shares of the asset manager’s stock, valued at approximately $5,301,000. State Street accounts for about 1.5% of Chase Investment Counsel Corp’s holdings, making the stock its 23rd biggest position.

Several other hedge funds also recently made changes to their positions in the company. Chicago Partners Investment Group LLC increased its stake 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 worth $675,000 after buying an additional 83 shares during the period. Wedmont Private Capital increased its stake in shares of State Street by 1.3% in the fourth quarter. Wedmont Private Capital now owns 6,498 shares of the asset manager’s stock worth $861,000 after buying an additional 85 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of State Street by 38.2% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after buying an additional 94 shares during the period. Arjuna Capital increased its position in State Street by 0.4% during the 4th quarter. Arjuna Capital now owns 25,139 shares of the asset manager’s stock valued at $3,243,000 after purchasing an additional 95 shares during the period. Finally, LVW Advisors LLC increased its position in State Street by 1.7% during the 4th quarter. LVW Advisors LLC now owns 5,605 shares of the asset manager’s stock valued at $723,000 after purchasing an additional 96 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Stock Performance

Shares of STT stock opened at $152.89 on Monday. State Street Corporation has a 12 month low of $94.19 and a 12 month high of $156.18. The stock has a market cap of $42.32 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 0.84 and a beta of 1.45. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.04. The company’s fifty day moving average price is $136.77 and its 200-day moving average price is $129.65.

State Street (NYSE:STT) last announced its earnings results on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.20. State Street had a net margin of 13.47% and a return on equity of 14.22%. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the previous year, the business posted $2.04 EPS. The company’s quarterly revenue was up 15.6% on a year-over-year basis. On average, equities analysts expect that State Street Corporation will post 12.35 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Wednesday, April 1st were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, April 1st. State Street’s payout ratio is 34.08%.

Analyst Ratings Changes

A number of brokerages have issued reports on STT. Keefe, Bruyette & Woods boosted their price objective on shares of State Street from $157.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Seaport Research Partners reissued a “buy” rating and set a $170.00 price objective on shares of State Street in a research report on Monday, April 20th. Bank of America raised shares of State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price objective on the stock in a research report on Monday, April 6th. Barclays set a $165.00 price objective on shares of State Street in a research report on Monday, April 20th. Finally, Royal Bank Of Canada boosted their price objective on shares of State Street from $135.00 to $155.00 and gave the company a “sector perform” rating in a research report on Monday, April 20th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $155.77.

Insider Activity

In other news, COO Mostapha Tahiri sold 9,611 shares of the business’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $152.93, for a total transaction of $1,469,810.23. Following the sale, the chief operating officer owned 64,642 shares in the company, valued at approximately $9,885,701.06. The trade was a 12.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael L. Richards sold 3,000 shares of the business’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the sale, the executive vice president owned 43,522 shares in the company, valued at approximately $6,697,600.58. This trade represents a 6.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 28,711 shares of company stock worth $3,933,032. Corporate insiders own 0.27% of the company’s stock.

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.