Susquehanna Fundamental Investments LLC Grows Holdings in State Street Corporation $STT

Susquehanna Fundamental Investments LLC boosted 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 filing with the Securities and Exchange Commission. The firm owned 71,916 shares of the asset manager’s stock after acquiring an additional 16,623 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in State Street were worth $12,197,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Western Wealth Management LLC raised its position in shares of State Street by 3.1% during the 1st quarter. Western Wealth Management LLC now owns 2,001 shares of the asset manager’s stock valued at $253,000 after purchasing an additional 60 shares during the period. Arjuna Capital raised its holdings in State Street by 0.4% during the fourth quarter. Arjuna Capital now owns 25,139 shares of the asset manager’s stock valued at $3,243,000 after acquiring an additional 95 shares during the period. CX Institutional lifted its position in shares of State Street by 1.0% in the second quarter. CX Institutional now owns 9,788 shares of the asset manager’s stock valued at $1,660,000 after acquiring an additional 98 shares in the last quarter. Greenleaf Trust lifted its position in shares of State Street by 0.6% in the second quarter. Greenleaf Trust now owns 17,295 shares of the asset manager’s stock valued at $2,933,000 after acquiring an additional 99 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of State Street by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 32,024 shares of the asset manager’s stock worth $4,053,000 after acquiring an additional 100 shares during the period. 87.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (b+)” rating on shares of State Street in a research report on Tuesday, August 25th. Barclays upped their price target on State Street from $165.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Evercore set a $200.00 price objective on shares of State Street in a report on Monday, July 20th. Bank of America boosted their target price on shares of State Street from $160.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of State Street from $195.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, State Street currently has an average rating of “Moderate Buy” and a consensus price target of $185.38.

State Street Stock Performance

NYSE:STT opened at $193.42 on Monday. The company has a market cap of $53.13 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 0.80 and a beta of 1.41. State Street Corporation has a 1 year low of $104.64 and a 1 year high of $195.93. The stock’s 50 day simple moving average is $182.46 and its two-hundred day simple moving average is $156.10. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.59 and a quick ratio of 0.59.

State Street (NYSE:STT) last posted its earnings results on Thursday, July 16th. The asset manager reported $3.65 EPS for the quarter, beating analysts’ consensus estimates of $3.34 by $0.31. State Street had a return on equity of 15.26% and a net margin of 15.02%.The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same period in the prior year, the company earned $2.04 EPS. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. As a group, equities analysts anticipate that State Street Corporation will post 13.75 earnings per share for the current fiscal year.

State Street Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.9%. This is an increase from State Street’s previous quarterly dividend of $0.84. The ex-dividend date is Thursday, October 1st. State Street’s dividend payout ratio (DPR) is 29.63%.

Insiders Place Their Bets

In related news, EVP Michael L. Richards sold 1,500 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $162.14, for a total value of $243,210.00. Following the completion of the transaction, the executive vice president owned 41,827 shares of the company’s stock, valued at approximately $6,781,829.78. This trade represents a 3.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hanley Ronald P. O sold 14,553 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $184.17, for a total value of $2,680,226.01. Following the sale, the chief executive officer directly owned 240,959 shares in the company, valued at $44,377,419.03. The trade was a 5.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,811 shares of company stock valued at $4,723,982 in the last three months. Corporate insiders own 0.27% of the company’s stock.

State Street Company Profile

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.