United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Takes Position in State Street Corporation $STT

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in State Street Corporation (NYSE:STT) during the fourth quarter, HoldingsChannel reports. The firm bought 176,896 shares of the asset manager’s stock, valued at approximately $22,821,000.

Other institutional investors have also modified their holdings of the company. JPL Wealth Management LLC acquired a new stake in shares of State Street in the 3rd quarter valued at about $29,000. Board of the Pension Protection Fund acquired a new stake in State Street during the fourth quarter worth about $39,000. Measured Wealth Private Client Group LLC acquired a new stake in State Street during the third quarter worth about $35,000. Ameriflex Group Inc. raised its stake in State Street by 102.5% during the third quarter. Ameriflex Group Inc. now owns 318 shares of the asset manager’s stock worth $37,000 after acquiring an additional 161 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC raised its stake in State Street by 38.2% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

In related news, CEO Hanley Ronald P. O sold 14,553 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total transaction of $2,260,808.55. Following the transaction, the chief executive officer owned 255,512 shares in the company, valued at $39,693,789.20. This trade represents a 5.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Plansky sold 16,100 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the transaction, the executive vice president owned 56,162 shares in the company, valued at $6,982,059.84. This represents a 22.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 52,476 shares of company stock valued at $7,624,925. 0.27% of the stock is currently owned by company insiders.

State Street Price Performance

Shares of NYSE:STT opened at $157.87 on Friday. The firm’s 50 day moving average is $142.61 and its two-hundred day moving average is $132.06. State Street Corporation has a 52 week low of $94.72 and a 52 week high of $159.31. The firm has a market capitalization of $43.69 billion, a P/E ratio of 16.01, a PEG ratio of 0.86 and a beta of 1.45. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, beating the consensus estimate of $2.64 by $0.20. State Street had a net margin of 13.47% and a return on equity of 14.22%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the business earned $2.04 earnings per share. State Street’s revenue was up 15.6% compared to the same quarter last year. Analysts anticipate that State Street Corporation will post 12.35 earnings per share for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 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 2.1%. The ex-dividend date is Wednesday, July 1st. State Street’s dividend payout ratio (DPR) is currently 34.08%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on STT shares. Citigroup increased their price objective on shares of State Street from $150.00 to $172.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Seaport Research Partners reiterated a “buy” rating and set a $170.00 price objective on shares of State Street in a research note on Monday, April 20th. Argus increased their price objective on shares of State Street from $140.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a research note on Monday, April 20th. Finally, Royal Bank Of Canada increased their price objective on shares of State Street from $135.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Monday, April 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $158.57.

Key State Street News

Here are the key news stories impacting State Street this week:

• Positive Sentiment: State Street Investment Management announced a change to its ETF lineup, including the planned closure and liquidation of the State Street DoubleLine Emerging Markets Fixed Income ETF (EMTL). This reflects an active review of the firm’s product set and could help management focus resources on higher-priority offerings. State Street Investment Management Announces Change to ETF Lineup
• Neutral Sentiment: State Street presented at the Bernstein 42nd Annual Strategic Decisions Conference, which may have given investors an updated look at strategy and outlook, but no major new financial details were included in the headline. State Street Corporation (STT) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript
• Negative Sentiment: CEO Ronald P. Hanley sold 14,553 shares and EVP W. Bradford Hu sold 9,212 shares in pre-arranged Rule 10b5-1 transactions. While these were planned sales, insider selling can still weigh on investor sentiment. CEO stock sale SEC filing EVP stock sale SEC filing

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.