Victory Capital Management Inc. Purchases 1,074,174 Shares of State Street Corporation $STT

Victory Capital Management Inc. boosted its position in State Street Corporation (NYSE:STT) by 30.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,559,546 shares of the asset manager’s stock after purchasing an additional 1,074,174 shares during the period. Victory Capital Management Inc. owned about 1.63% of State Street worth $588,227,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Chicago Partners Investment Group LLC lifted its holdings in State Street by 1.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 5,351 shares of the asset manager’s stock valued at $675,000 after buying an additional 83 shares in the last quarter. Wedmont Private Capital lifted its holdings in State Street by 1.3% during the 4th quarter. Wedmont Private Capital now owns 6,498 shares of the asset manager’s stock valued at $861,000 after buying an additional 85 shares in the last quarter. Arjuna Capital lifted its holdings in State Street by 0.4% during the 4th quarter. Arjuna Capital now owns 25,139 shares of the asset manager’s stock valued at $3,243,000 after buying an additional 95 shares in the last quarter. LVW Advisors LLC lifted its holdings in State Street by 1.7% during the 4th quarter. LVW Advisors LLC now owns 5,605 shares of the asset manager’s stock valued at $723,000 after buying an additional 96 shares in the last quarter. Finally, Security National Bank of SO Dak lifted its holdings in State Street by 0.5% during the 2nd quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock valued at $2,289,000 after buying an additional 105 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

State Street Trading Up 1.5%

NYSE STT opened at $167.27 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market capitalization of $46.30 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 0.90 and a beta of 1.43. The company’s 50-day simple moving average is $150.84 and its two-hundred day simple moving average is $135.43. State Street Corporation has a one year low of $95.67 and a one year high of $168.29.

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

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $3.36 dividend on an annualized basis and a yield of 2.0%. State Street’s dividend payout ratio (DPR) is 34.08%.

Insider Activity

In other news, COO Mostapha Tahiri sold 9,611 shares of State Street stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $152.93, for a total value of $1,469,810.23. Following the transaction, the chief operating officer owned 64,642 shares of the company’s stock, valued at $9,885,701.06. The trade was a 12.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP W. Bradford Hu sold 9,212 shares of State Street stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total transaction of $1,431,084.20. Following the completion of the transaction, the executive vice president directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 37,876 shares of company stock worth $5,866,583 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

STT has been the subject of a number of research analyst reports. Seaport Research Partners reiterated a “buy” rating and set a $170.00 price objective on shares of State Street in a report on Monday, April 20th. Royal Bank Of Canada lifted their price objective on shares of State Street from $135.00 to $155.00 and gave the company a “sector perform” rating in a report on Monday, April 20th. JPMorgan Chase & Co. lifted their price objective on shares of State Street from $137.50 to $158.50 and gave the company a “neutral” rating in a report on Monday, May 11th. Zacks Research upgraded shares of State Street from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of State Street from $157.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.