Susquehanna Fundamental Investments LLC Purchases 16,623 Shares of State Street Corporation $STT

Susquehanna Fundamental Investments LLC grew its position in shares of State Street Corporation (NYSE:STT) by 30.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,916 shares of the asset manager’s stock after buying an additional 16,623 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in State Street were worth $12,197,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Philadelphia Investment Partners LLC bought a new position in State Street in the 2nd quarter valued at approximately $26,000. Bell Investment Advisors Inc purchased a new position in shares of State Street in the second quarter worth $28,000. Wilkerson Advisory Group LLC purchased a new position in shares of State Street in the fourth quarter worth $29,000. JPL Wealth Management LLC purchased a new position in shares of State Street in the third quarter worth $29,000. Finally, Phillip James Consulting Co. bought a new position in shares of State Street during the fourth quarter valued at $30,000. Institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

STT has been the subject of several research analyst reports. Barclays lifted their price objective on State Street from $165.00 to $200.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Citigroup upped their target price on shares of State Street from $193.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Keefe, Bruyette & Woods raised their price target on shares of State Street from $195.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Wells Fargo & Company lifted their price target on shares of State Street from $196.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Finally, Royal Bank Of Canada boosted their price objective on shares of State Street from $155.00 to $196.00 and gave the company a “sector perform” rating in a report on Friday, July 17th. Two equities 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $185.38.

State Street Stock Up 0.0%

State Street stock opened at $193.42 on Monday. State Street Corporation has a one year low of $104.64 and a one year high of $195.93. The stock has a fifty day moving average of $182.46 and a 200 day moving average of $156.10. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market cap of $53.13 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 0.80 and a beta of 1.41.

State Street (NYSE:STT) last announced its earnings results on Thursday, July 16th. The asset manager reported $3.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.31. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.88 billion. State Street had a return on equity of 15.26% and a net margin of 15.02%.The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the firm posted $2.04 earnings per share. As a group, sell-side analysts predict that State Street Corporation will post 13.75 EPS for the current year.

State Street Increases Dividend

The firm also recently disclosed 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 a boost from State Street’s previous quarterly dividend of $0.84. The ex-dividend date is Thursday, October 1st. This represents a $3.68 annualized dividend and a dividend yield of 1.9%. State Street’s dividend payout ratio (DPR) is currently 29.63%.

Insider Buying and Selling

In related news, EVP W. Bradford Hu sold 9,758 shares of the firm’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 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 trade 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 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 company’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 sale, the executive vice president directly 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. Over the last quarter, insiders have sold 25,811 shares of company stock valued at $4,723,982. 0.27% of the stock is owned by insiders.

About State Street

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.