Cetera Investment Advisers Purchases 7,857 Shares of State Street Corporation $STT

Cetera Investment Advisers boosted its position in shares of State Street Corporation (NYSE:STTFree Report) by 14.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 63,882 shares of the asset manager’s stock after acquiring an additional 7,857 shares during the quarter. Cetera Investment Advisers’ holdings in State Street were worth $8,085,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of STT. Chicago Partners Investment Group LLC grew its position in State Street by 1.6% during the fourth 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 during the period. Arjuna Capital raised its position in State Street by 0.4% in the fourth quarter. Arjuna Capital now owns 25,139 shares of the asset manager’s stock worth $3,243,000 after acquiring an additional 95 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of State Street by 0.3% during the 1st 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 last quarter. Security National Bank of SO Dak boosted its stake in shares of 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 worth $2,289,000 after acquiring an additional 105 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its position in shares of State Street by 1.3% during the 4th quarter. Verdence Capital Advisors LLC now owns 8,060 shares of the asset manager’s stock valued at $1,040,000 after acquiring an additional 106 shares during the period. Institutional investors own 87.44% of the company’s stock.

State Street Price Performance

NYSE:STT opened at $184.60 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 1.04. The business’s 50-day simple moving average is $171.96 and its two-hundred day simple moving average is $147.71. The stock has a market cap of $51.09 billion, a PE ratio of 16.28, a P/E/G ratio of 0.76 and a beta of 1.42. State Street Corporation has a 52 week low of $104.64 and a 52 week high of $192.51.

State Street (NYSE:STTGet Free Report) last released its quarterly earnings data on Thursday, July 16th. The asset manager reported $3.65 earnings per share for the quarter, topping 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 analyst estimates of $3.88 billion. During the same quarter in the prior year, the company posted $2.04 earnings per share. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. As a group, analysts forecast that State Street Corporation will post 13.68 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 issued a $0.92 dividend. 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 2.0%. This is a boost from State Street’s previous quarterly dividend of $0.84. State Street’s payout ratio is presently 29.63%.

Analyst Ratings Changes

Several research firms recently weighed in on STT. Barclays lifted their target price on State Street from $165.00 to $200.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Keefe, Bruyette & Woods upped their price target on State Street from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. UBS Group set a $176.00 price objective on State Street in a research note on Friday, June 26th. Argus boosted their price objective on State Street from $140.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group increased their target price on shares of State Street from $168.00 to $194.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $184.72.

View Our Latest Report on State Street

Insider Buying and Selling

In other State Street news, EVP W. Bradford Hu sold 9,758 shares of State Street stock in a transaction on Friday, July 24th. The shares were sold at an average price of $184.52, for a total value of $1,800,546.16. Following the sale, the executive vice president directly owned 49,794 shares in the company, valued at approximately $9,187,988.88. The trade was a 16.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $162.14, for a total transaction of $243,210.00. Following the completion of the sale, the executive vice president owned 41,827 shares in the company, valued at approximately $6,781,829.78. The trade was a 3.46% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 49,576 shares of company stock valued at $8,415,875. Corporate insiders own 0.27% of the company’s stock.

About State Street

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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