State Street Corporation $STT Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its position in shares of State Street Corporation (NYSE:STT) by 22.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,004 shares of the asset manager’s stock after purchasing an additional 18,899 shares during the period. Handelsbanken Fonder AB’s holdings in State Street were worth $13,418,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. JPL Wealth Management LLC acquired a new stake in shares of State Street during the 3rd quarter worth about $29,000. Flagship Wealth Advisors LLC acquired a new stake in shares of State Street during the 3rd quarter worth about $35,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of State Street during the 3rd quarter worth about $35,000. Ameriflex Group Inc. boosted its stake in shares of State Street by 102.5% during the 3rd quarter. Ameriflex Group Inc. now owns 318 shares of the asset manager’s stock worth $37,000 after purchasing an additional 161 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of State Street by 38.2% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after purchasing an additional 94 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at State Street

In related news, EVP Michael L. Richards sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John Plansky sold 16,100 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the completion of the transaction, the executive vice president owned 56,162 shares in the company, valued at $6,982,059.84. The trade was a 22.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 28,711 shares of company stock worth $3,933,032. Company insiders own 0.27% of the company’s stock.

State Street Trading Down 0.3%

Shares of STT stock opened at $153.55 on Friday. The firm has a market cap of $42.50 billion, a P/E ratio of 15.57, a PEG ratio of 0.84 and a beta of 1.45. State Street Corporation has a 1-year low of $94.19 and a 1-year high of $156.18. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.57. The firm’s 50-day simple moving average is $139.21 and its 200-day simple moving average is $130.67.

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

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be issued a $0.84 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $3.36 annualized dividend and a yield of 2.2%. State Street’s dividend payout ratio (DPR) is presently 34.08%.

Analysts Set New Price Targets

STT has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of State Street from $137.50 to $158.50 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Morgan Stanley raised their price target on shares of State Street from $155.00 to $166.00 and gave the stock an “overweight” rating in a research note 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 target on the stock in a research note on Monday, April 6th. Seaport Research Partners reiterated a “buy” rating and set a $170.00 price objective on shares of State Street in a report on Monday, April 20th. Finally, Argus increased their price objective on shares of State Street from $140.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.77.

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.