State Street Corporation $STT Shares Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI boosted its holdings in shares of State Street Corporation (NYSE:STT) by 15.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 26,828 shares of the asset manager’s stock after buying an additional 3,649 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in State Street were worth $3,461,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in STT. JPL Wealth Management LLC acquired a new stake in State Street during the 3rd quarter worth approximately $29,000. Flagship Wealth Advisors LLC acquired a new stake in State Street during the 3rd quarter worth approximately $35,000. Measured Wealth Private Client Group LLC acquired a new stake in State Street during the 3rd quarter worth approximately $35,000. Ameriflex Group Inc. lifted its holdings in State Street by 102.5% during the 3rd quarter. Ameriflex Group Inc. now owns 318 shares of the asset manager’s stock worth $37,000 after buying an additional 161 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its holdings in State Street by 38.2% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after buying an additional 94 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Trading Down 0.6%

Shares of NYSE:STT opened at $152.89 on Friday. State Street Corporation has a 52 week low of $94.19 and a 52 week high of $156.18. The company’s 50 day moving average is $136.77 and its two-hundred day moving average is $129.56. 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 cap of $42.32 billion, a PE ratio of 15.51, a P/E/G ratio of 0.84 and a beta of 1.45.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.59 billion. During the same period in the prior year, the firm posted $2.04 EPS. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. Equities analysts predict that State Street Corporation will post 12.35 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 13th. Investors of record on Wednesday, April 1st were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, April 1st. State Street’s dividend payout ratio (DPR) is 34.08%.

Analysts Set New Price Targets

A number of research firms have issued reports on STT. Argus increased their target price on shares of State Street from $140.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Weiss Ratings reissued a “buy (b)” rating on shares of State Street in a research report on Monday, April 20th. The Goldman Sachs Group increased their price objective on shares of State Street from $152.00 to $168.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Royal Bank Of Canada increased their price objective on shares of State Street from $135.00 to $155.00 and gave the company a “sector perform” rating in a research report on Monday, April 20th. Finally, Zacks Research raised shares of State Street from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.77.

Insider Activity at State Street

In related news, EVP Michael L. Richards sold 3,000 shares of the stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the transaction, the executive vice president directly owned 43,522 shares of the company’s stock, valued at $6,697,600.58. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Mostapha Tahiri sold 9,611 shares of the stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $152.93, for a total transaction of $1,469,810.23. Following the completion of the transaction, the chief operating officer directly owned 64,642 shares in the company, valued at $9,885,701.06. This trade represents a 12.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 28,711 shares of company stock valued at $3,933,032 in the last ninety days. Insiders own 0.27% of the company’s stock.

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.