Neville Rodie & Shaw Inc. maintained its stake in shares of State Street Corporation (NYSE:STT) during the second quarter, Holdings Channel reports. The fund owned 4,150 shares of the asset manager’s stock at the end of the second quarter. Neville Rodie & Shaw Inc.’s holdings in State Street Corporation were worth $373,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new stake in shares of State Street Corporation during the first quarter valued at approximately $123,000. FTB Advisors Inc. increased its stake in shares of State Street Corporation by 15.7% in the first quarter. FTB Advisors Inc. now owns 1,523 shares of the asset manager’s stock valued at $127,000 after buying an additional 207 shares during the last quarter. Pinnacle Bank purchased a new stake in shares of State Street Corporation during the first quarter valued at approximately $129,000. Salem Investment Counselors Inc. increased its stake in shares of State Street Corporation by 2,677.8% in the first quarter. Salem Investment Counselors Inc. now owns 1,000 shares of the asset manager’s stock valued at $131,000 after buying an additional 964 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of State Street Corporation during the first quarter valued at approximately $155,000. 87.97% of the stock is owned by hedge funds and other institutional investors.
State Street Corporation (NYSE:STT) opened at 92.07 on Monday. The firm has a market cap of $34.64 billion, a PE ratio of 17.23 and a beta of 1.29. The company’s 50-day moving average is $84.95 and its 200 day moving average is $80.96. State Street Corporation has a one year low of $55.88 and a one year high of $92.31.
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State Street Corporation (NYSE:STT) last posted its quarterly earnings data on Wednesday, April 26th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.11. The firm had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.75 billion. State Street Corporation had a net margin of 20.54% and a return on equity of 12.38%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. Equities analysts anticipate that State Street Corporation will post $5.94 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 18th. Investors of record on Monday, July 3rd will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Thursday, June 29th. State Street Corporation’s dividend payout ratio (DPR) is currently 28.46%.
STT has been the subject of several recent analyst reports. BidaskClub raised shares of State Street Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. UBS AG raised shares of State Street Corporation from a “neutral” rating to a “buy” rating and upped their target price for the company from $86.00 to $92.00 in a research note on Monday, June 5th. Goldman Sachs Group, Inc. (The) upped their target price on shares of State Street Corporation from $88.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Buckingham Research reaffirmed a “buy” rating and issued a $107.00 target price (up previously from $94.00) on shares of State Street Corporation in a research note on Monday, July 10th. Finally, Zacks Investment Research raised shares of State Street Corporation from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research note on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. State Street Corporation currently has an average rating of “Hold” and an average price target of $87.75.
In related news, Chairman Joseph L. Hooley sold 5,666 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $87.88, for a total value of $497,928.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Karen C. Keenan sold 1,000 shares of the business’s stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $78.56, for a total value of $78,560.00. Following the completion of the sale, the executive vice president now owns 60,934 shares in the company, valued at $4,786,975.04. The disclosure for this sale can be found here. Insiders sold a total of 14,069 shares of company stock worth $1,201,189 over the last three months. 0.64% of the stock is owned by insiders.
About State Street Corporation
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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