Nykredit A S Takes Position in State Street Corporation $STT

Nykredit A S bought a new position in State Street Corporation (NYSE:STT) during the 2nd quarter, Holdings Channel reports. The firm bought 107,839 shares of the asset manager’s stock, valued at approximately $18,289,000.

A number of other large investors have also bought and sold shares of the business. Philadelphia Investment Partners LLC bought a new position in State Street in the 2nd quarter valued at $26,000. Bell Investment Advisors Inc acquired a new stake in shares of State Street in the second quarter valued at $28,000. Elevation Wealth Partners LLC increased its stake in shares of State Street by 153.6% in the second quarter. Elevation Wealth Partners LLC now owns 175 shares of the asset manager’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Keating Financial Advisory Services Inc. bought a new position in shares of State Street in the second quarter valued at about $33,000. Finally, Kelleher Financial Advisors bought a new position in shares of State Street in the second quarter valued at about $33,000. 87.44% of the stock is currently owned by institutional investors.

Insider Activity

In other State Street news, EVP W. Hu sold 9,758 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $184.52, for a total value of $1,800,546.16. Following the transaction, the executive vice president owned 49,794 shares of the company’s stock, valued at approximately $9,187,988.88. This represents a 16.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 dated Monday, June 8th. The stock was sold at an average price of $162.14, for a total value of $243,210.00. Following the transaction, the executive vice president owned 41,827 shares of the company’s stock, valued at $6,781,829.78. The trade was a 3.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 25,811 shares of company stock valued at $4,723,982 in the last 90 days. 0.27% of the stock is owned by company insiders.

State Street Stock Performance

State Street stock opened at $194.41 on Friday. The company has a market cap of $53.40 billion, a PE ratio of 17.14, a PEG ratio of 0.92 and a beta of 1.41. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. State Street Corporation has a 1 year low of $104.64 and a 1 year high of $195.93. The company’s 50-day moving average is $184.53 and its two-hundred day moving average is $158.08.

State Street (NYSE:STT) last issued its quarterly earnings results on Thursday, July 16th. The asset manager reported $3.65 EPS for the quarter, topping the consensus estimate of $3.34 by $0.31. The company 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.04 EPS. Equities analysts anticipate that State Street Corporation will post 13.75 earnings per share for the current year.

State Street Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Thursday, October 1st will be paid a $0.92 dividend. This is an increase 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 1.9%. State Street’s dividend payout ratio (DPR) is currently 29.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on STT shares. JPMorgan Chase & Co. increased their price objective on shares of State Street from $176.50 to $187.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Bank of America upped their target price on shares of State Street from $160.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. The Goldman Sachs Group increased their price target on shares of State Street from $168.00 to $194.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Evercore set a $200.00 price target on shares of State Street in a report on Monday, July 20th. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of State Street in a research report on Tuesday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.