Arbejdsmarkedets Tillaegspension Purchases Shares of 184,361 State Street Corporation $STT

Arbejdsmarkedets Tillaegspension purchased a new stake in State Street Corporation (NYSE:STT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 184,361 shares of the asset manager’s stock, valued at approximately $23,784,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPL Wealth Management LLC purchased a new position in shares of State Street during the 3rd quarter valued at about $29,000. Board of the Pension Protection Fund purchased a new position in shares of State Street during the 4th quarter valued at about $39,000. Flagship Wealth Advisors LLC purchased a new position in shares of State Street during the 3rd quarter valued at about $35,000. Measured Wealth Private Client Group LLC purchased a new position in shares of State Street during the 3rd quarter valued at about $35,000. Finally, Ameriflex Group Inc. raised its holdings 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 valued at $37,000 after buying an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Price Performance

Shares of STT stock opened at $153.60 on Friday. The firm has a market cap of $42.51 billion, a P/E ratio of 15.58, a P/E/G ratio of 0.83 and a beta of 1.45. State Street Corporation has a fifty-two week low of $94.19 and a fifty-two week high of $156.18. The business’s 50 day moving average price is $136.25 and its 200-day moving average price is $129.39. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57.

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

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Wednesday, April 1st were given a $0.84 dividend. 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 dividend payout ratio (DPR) is currently 34.08%.

Insider Transactions at State Street

In related news, COO Mostapha Tahiri sold 9,611 shares of State Street stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $152.93, for a total transaction of $1,469,810.23. Following the sale, the chief operating officer directly owned 64,642 shares in the company, valued at $9,885,701.06. The trade was a 12.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Plansky sold 16,100 shares of State Street stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total value of $2,001,552.00. Following the sale, the executive vice president owned 56,162 shares in the company, valued at $6,982,059.84. This represents a 22.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 28,711 shares of company stock worth $3,933,032. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on STT shares. Wall Street Zen raised State Street from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Seaport Research Partners reaffirmed a “buy” rating and issued a $170.00 price target on shares of State Street in a research note on Monday, April 20th. JPMorgan Chase & Co. lifted their price target on State Street from $137.50 to $158.50 and gave the stock a “neutral” rating in a research note on Monday. Argus lifted their price target on State Street from $140.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group lifted their price target on State Street from $152.00 to $168.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $155.77.

State Street Company 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.