State Street Corporation (NYSE:STT) Shares Purchased by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. increased its stake in shares of State Street Corporation (NYSE:STT) by 4.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 9,141 shares of the asset manager’s stock after purchasing an additional 374 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in State Street were worth $818,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Pacific Financial acquired a new stake in State Street during the 1st quarter worth $25,000. Larson Financial Group LLC raised its stake in State Street by 40.8% during the 1st quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock worth $36,000 after acquiring an additional 118 shares in the last quarter. Coppell Advisory Solutions LLC raised its stake in State Street by 2,942.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock worth $42,000 after acquiring an additional 412 shares in the last quarter. Golden State Wealth Management LLC raised its stake in State Street by 186.7% during the 1st quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager’s stock worth $43,000 after acquiring an additional 310 shares in the last quarter. Finally, Minot DeBlois Advisors LLC acquired a new stake in State Street during the 4th quarter worth $49,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wells Fargo & Company lifted their price target on shares of State Street from $113.00 to $121.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Cfra Research upgraded shares of State Street from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, July 15th. Bank of America lifted their price objective on shares of State Street from $106.00 to $109.00 and gave the company an “underperform” rating in a research note on Wednesday, July 16th. The Goldman Sachs Group lifted their price objective on shares of State Street from $98.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Finally, Citigroup lifted their price objective on shares of State Street from $100.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $112.82.

Insider Activity

In related news, EVP Michael L. Richards sold 990 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $109.29, for a total transaction of $108,197.10. Following the sale, the executive vice president owned 41,332 shares of the company’s stock, valued at approximately $4,517,174.28. The trade was a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by company insiders.

State Street Trading Down 2.2%

Shares of State Street stock opened at $111.09 on Friday. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $114.28. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.09. The company’s 50-day simple moving average is $106.93 and its 200-day simple moving average is $97.06. The firm has a market cap of $31.52 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.25 and a beta of 1.48.

State Street (NYSE:STT) last issued its quarterly earnings results on Tuesday, July 15th. The asset manager reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.17. State Street had a net margin of 12.59% and a return on equity of 12.96%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the business posted $2.15 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts anticipate that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. This is a positive change from State Street’s previous quarterly dividend of $0.76. The ex-dividend date is Wednesday, October 1st. State Street’s dividend payout ratio (DPR) is presently 34.04%.

State Street 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, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.