State Street Corporation $STT Holdings Reduced by Securian Asset Management Inc.

Securian Asset Management Inc. lessened its holdings in shares of State Street Corporation (NYSE:STT) by 44.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,595 shares of the asset manager’s stock after selling 6,082 shares during the period. Securian Asset Management Inc.’s holdings in State Street were worth $980,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Franklin Resources Inc. increased its position in State Street by 3.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,859,012 shares of the asset manager’s stock valued at $447,684,000 after acquiring an additional 137,049 shares during the period. Nordea Investment Management AB boosted its position in State Street by 15.4% during the 4th quarter. Nordea Investment Management AB now owns 2,829,271 shares of the asset manager’s stock worth $367,041,000 after acquiring an additional 377,568 shares during the period. Regents of The University of California bought a new position in shares of State Street in the third quarter worth $324,576,000. First Trust Advisors LP grew its stake in shares of State Street by 36.8% in the third quarter. First Trust Advisors LP now owns 2,747,646 shares of the asset manager’s stock worth $318,754,000 after purchasing an additional 738,456 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of State Street by 27.7% during the third quarter. Barclays PLC now owns 1,576,332 shares of the asset manager’s stock valued at $182,870,000 after purchasing an additional 342,344 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Price Performance

Shares of NYSE STT opened at $151.60 on Thursday. State Street Corporation has a twelve month low of $94.19 and a twelve month high of $156.18. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $41.96 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 0.82 and a beta of 1.45. The firm has a 50-day moving average of $135.69 and a two-hundred day moving average of $129.13.

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

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st were given a $0.84 dividend. The ex-dividend date was Wednesday, April 1st. This represents a $3.36 annualized dividend and a yield of 2.2%. State Street’s payout ratio is 34.08%.

Insider Buying and Selling at State Street

In other news, EVP John Plansky sold 16,100 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the completion of the sale, the executive vice president owned 56,162 shares in the company, valued at approximately $6,982,059.84. This represents a 22.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the executive vice president directly owned 43,522 shares of the company’s stock, valued at approximately $6,697,600.58. This represents a 6.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 28,711 shares of company stock valued at $3,933,032. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on STT shares. Barclays set a $165.00 price objective on shares of State Street in a report on Monday, April 20th. Bank of America raised shares of State Street from an “underperform” rating to a “neutral” rating and set a $143.00 target price on the stock in a research note on Monday, April 6th. Seaport Research Partners reaffirmed a “buy” rating and issued a $170.00 price target on shares of State Street in a research note on Monday, April 20th. Wall Street Zen upgraded shares of State Street from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Argus raised their price objective on shares of State Street from $140.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, State Street presently has a consensus rating of “Moderate Buy” and an average target price of $155.77.

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.