TD Waterhouse Canada Inc. Acquires 12,339 Shares of State Street Corporation $STT

TD Waterhouse Canada Inc. raised its holdings in shares of State Street Corporation (NYSE:STT) by 1,169.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,394 shares of the asset manager’s stock after buying an additional 12,339 shares during the period. TD Waterhouse Canada Inc.’s holdings in State Street were worth $2,272,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Continuum Advisory LLC purchased a new stake in State Street during the 2nd quarter valued at about $30,000. Nykredit A S purchased a new position in State Street in the 2nd quarter worth approximately $18,289,000. B. Metzler seel. Sohn & Co. AG lifted its position in State Street by 2.8% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 30,665 shares of the asset manager’s stock valued at $5,201,000 after purchasing an additional 827 shares during the last quarter. Coppell Advisory Solutions LLC purchased a new stake in shares of State Street during the second quarter valued at approximately $2,035,000. Finally, Resolute Advisors LLC purchased a new stake in shares of State Street during the second quarter valued at approximately $226,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Activity

In other news, CEO Hanley Ronald P. O sold 14,553 shares of State Street stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $184.17, for a total transaction of $2,680,226.01. Following the completion of the transaction, the chief executive officer directly owned 240,959 shares in the company, valued at approximately $44,377,419.03. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Hu sold 9,758 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $184.52, for a total value of $1,800,546.16. Following the completion of the sale, the executive vice president directly owned 49,794 shares in the company, valued at approximately $9,187,988.88. This represents a 16.39% 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 own 0.27% of the company’s stock.

State Street Price Performance

Shares of STT stock opened at $191.97 on Wednesday. The stock has a market cap of $52.73 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 0.92 and a beta of 1.41. The business’s fifty day moving average is $185.45 and its 200 day moving average is $159.20. State Street Corporation has a twelve month low of $104.64 and a twelve month high of $195.93. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.04.

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

State Street Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Thursday, October 1st will be given a dividend of $0.92 per share. This is an increase from State Street’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $3.68 dividend on an annualized basis and a yield of 1.9%. State Street’s dividend payout ratio is 32.45%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Bank of America upped their price target on shares of State Street from $160.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Evercore set a $200.00 price objective on shares of State Street in a research report on Monday, July 20th. Royal Bank Of Canada upped their price objective on shares of State Street from $155.00 to $196.00 and gave the company a “sector perform” rating in a research note on Friday, July 17th. UBS Group set a $176.00 target price on shares of State Street in a report on Friday, June 26th. Finally, Keefe, Bruyette & Woods boosted their price target on State Street from $195.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, State Street currently has an average rating of “Moderate Buy” and an average price target of $185.38.

About State Street

State Street Corporation is a financial services company headquartered in Boston, Massachusetts. Founded in 1792, it serves institutional investors, asset managers, asset owners, insurance companies, official institutions and other financial organizations worldwide.

Through its investment servicing business, State Street provides custody and fund administration, accounting, transfer agency, middle-office outsourcing, collateral management, performance measurement and regulatory reporting services.