First National Bank of Omaha Purchases Shares of 11,711 State Street Corporation $STT

First National Bank of Omaha acquired a new position in shares of State Street Corporation (NYSE:STT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,711 shares of the asset manager’s stock, valued at approximately $1,986,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of State Street during the second quarter worth approximately $4,139,389,000. Regents of The University of California boosted its stake in State Street by 15.6% in the 1st quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager’s stock valued at $1,273,841,000 after purchasing an additional 1,358,923 shares during the period. Morgan Stanley boosted its stake in State Street by 9.0% in the 4th quarter. Morgan Stanley now owns 5,222,382 shares of the asset manager’s stock valued at $673,740,000 after purchasing an additional 433,201 shares during the period. Victory Capital Management Inc. boosted its stake in State Street by 30.8% in the 4th quarter. Victory Capital Management Inc. now owns 4,559,546 shares of the asset manager’s stock valued at $588,227,000 after purchasing an additional 1,074,174 shares during the period. Finally, Franklin Resources Inc. grew its holdings in State Street by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 3,926,321 shares of the asset manager’s stock valued at $506,534,000 after buying an additional 67,309 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Down 3.1%

Shares of NYSE STT opened at $185.91 on Thursday. The stock has a market capitalization of $51.07 billion, a P/E ratio of 16.39, a PEG ratio of 0.79 and a beta of 1.41. The stock’s fifty day moving average is $179.34 and its 200 day moving average is $153.18. State Street Corporation has a 52 week low of $104.64 and a 52 week high of $195.18. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.59.

State Street (NYSE:STT) last posted its quarterly earnings data on Thursday, July 16th. The asset manager reported $3.65 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.31. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.88 billion. State Street had a net margin of 15.02% and a return on equity of 15.26%. State Street’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.04 earnings per share. Sell-side analysts forecast that State Street Corporation will post 13.75 earnings per share for the current fiscal year.

State Street Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Thursday, October 1st will be issued 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 dividend on an annualized basis and a dividend yield of 2.0%. State Street’s payout ratio is currently 29.63%.

Insider Transactions at State Street

In other State Street news, EVP W. Bradford Hu sold 9,758 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $184.52, for a total transaction of $1,800,546.16. Following the completion of the transaction, the executive vice president directly owned 49,794 shares in the company, valued at $9,187,988.88. The trade was a 16.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $162.14, for a total transaction of $243,210.00. Following the transaction, the executive vice president owned 41,827 shares of the company’s stock, valued at approximately $6,781,829.78. This represents a 3.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 49,576 shares of company stock valued at $8,415,875. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on STT. Morgan Stanley increased their price objective on State Street from $183.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. JPMorgan Chase & Co. raised their price target on shares of State Street from $176.50 to $187.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada lifted their price objective on shares of State Street from $155.00 to $196.00 and gave the stock a “sector perform” rating in a research note on Friday, July 17th. UBS Group set a $176.00 price objective on shares of State Street in a report on Friday, June 26th. Finally, Weiss Ratings upgraded shares of State Street from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.38.

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.