Csenge Advisory Group boosted its holdings in State Street Corp (NYSE:STT) by 28.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,675 shares of the asset manager’s stock after buying an additional 2,574 shares during the period. Csenge Advisory Group’s holdings in State Street were worth $1,164,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Puzo Michael J grew its stake in State Street by 7.8% in the 4th quarter. Puzo Michael J now owns 7,599 shares of the asset manager’s stock valued at $743,000 after buying an additional 550 shares in the last quarter. FDx Advisors Inc. boosted its holdings in State Street by 2.9% in the 1st quarter. FDx Advisors Inc. now owns 20,444 shares of the asset manager’s stock valued at $2,039,000 after purchasing an additional 582 shares during the period. Alpine Woods Capital Investors LLC boosted its holdings in State Street by 2.8% in the 1st quarter. Alpine Woods Capital Investors LLC now owns 22,000 shares of the asset manager’s stock valued at $2,194,000 after purchasing an additional 600 shares during the period. Ledyard National Bank boosted its holdings in State Street by 12.1% in the 4th quarter. Ledyard National Bank now owns 5,703 shares of the asset manager’s stock valued at $557,000 after purchasing an additional 615 shares during the period. Finally, IFP Advisors Inc boosted its holdings in State Street by 24.1% in the 1st quarter. IFP Advisors Inc now owns 3,565 shares of the asset manager’s stock valued at $356,000 after purchasing an additional 693 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.
State Street opened at $100.47 on Friday, according to MarketBeat Ratings. State Street Corp has a 52-week low of $80.73 and a 52-week high of $114.27. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.57. The firm has a market cap of $36.80 billion, a PE ratio of 16.86, a P/E/G ratio of 1.29 and a beta of 1.32.
State Street (NYSE:STT) last posted its quarterly earnings data on Friday, April 20th. The asset manager reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.04. State Street had a net margin of 19.07% and a return on equity of 14.23%. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the firm posted $1.21 EPS. The firm’s revenue was up 13.2% compared to the same quarter last year. equities analysts expect that State Street Corp will post 7.78 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 17th. Stockholders of record on Monday, July 2nd will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Friday, June 29th. State Street’s dividend payout ratio is currently 28.19%.
Several research analysts have commented on the stock. ValuEngine downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Keefe, Bruyette & Woods set a $115.00 price target on shares of State Street and gave the company a “buy” rating in a report on Wednesday, April 4th. Deutsche Bank raised shares of State Street from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Monday, April 23rd. Sandler O’Neill reissued a “hold” rating and issued a $104.00 price target on shares of State Street in a report on Monday, April 9th. Finally, Zacks Investment Research raised shares of State Street from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Thursday, May 3rd. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. State Street presently has an average rating of “Buy” and a consensus price target of $110.27.
In other State Street news, EVP Andrew P. Kuritzkes sold 10,248 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.17, for a total value of $1,108,526.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Karen C. Keenan sold 851 shares of the business’s stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $100.78, for a total transaction of $85,763.78. The disclosure for this sale can be found here. Insiders have sold a total of 12,860 shares of company stock valued at $1,377,980 over the last ninety days. 0.40% of the stock is currently owned by insiders.
State Street Company Profile
State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
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