Intech Investment Management LLC Has $2.94 Million Stock Holdings in State Street Corporation $STT

Intech Investment Management LLC cut its position in shares of State Street Corporation (NYSE:STT) by 29.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,800 shares of the asset manager’s stock after selling 9,644 shares during the quarter. Intech Investment Management LLC’s holdings in State Street were worth $2,941,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in STT. Brighton Jones LLC acquired a new stake in State Street during the fourth quarter worth about $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in State Street by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock worth $2,885,000 after buying an additional 918 shares in the last quarter. NewEdge Advisors LLC grew its position in State Street by 105.2% during the first quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock worth $913,000 after buying an additional 5,226 shares in the last quarter. Empowered Funds LLC lifted its stake in State Street by 220.1% during the first quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock worth $2,065,000 after purchasing an additional 15,996 shares during the period. Finally, Woodline Partners LP lifted its stake in State Street by 38.4% during the first quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock worth $2,182,000 after purchasing an additional 6,767 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Stock Performance

STT stock opened at $159.94 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.57. The company has a 50 day moving average price of $144.07 and a 200 day moving average price of $132.59. State Street Corporation has a fifty-two week low of $95.28 and a fifty-two week high of $161.80. The stock has a market capitalization of $44.27 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, topping 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 firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the previous year, the company posted $2.04 EPS. State Street’s revenue was up 15.6% on a year-over-year basis. Analysts forecast that State Street Corporation will post 12.35 EPS for the current year.

State Street Dividend Announcement

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 given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, July 1st. State Street’s payout ratio is 34.08%.

Insider Transactions at State Street

In other State Street news, EVP W. Bradford Hu sold 9,212 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total transaction of $1,431,084.20. Following the completion of the sale, the executive vice president owned 59,552 shares in the company, valued at approximately $9,251,403.20. The trade was a 13.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael L. Richards sold 3,000 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the transaction, the executive vice president owned 43,522 shares in the company, valued at $6,697,600.58. This represents a 6.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 52,476 shares of company stock worth $7,624,925 over the last ninety days. 0.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price target on shares of State Street from $152.00 to $168.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Wells Fargo & Company raised their price target on shares of State Street from $162.00 to $171.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Royal Bank Of Canada raised their price target 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. Morgan Stanley raised their price target on shares of State Street from $155.00 to $166.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Finally, Bank of America upgraded shares of State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price target for the company in a research note on Monday, April 6th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, State Street presently has an average rating of “Moderate Buy” and an average price target of $158.57.

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.