Janus Henderson Group PLC Has $9.35 Million Stake in State Street Corporation $STT

Janus Henderson Group PLC raised its holdings in State Street Corporation (NYSE:STTFree Report) by 77.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,841 shares of the asset manager’s stock after purchasing an additional 32,341 shares during the quarter. Janus Henderson Group PLC’s holdings in State Street were worth $9,346,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. IFM Investors Pty Ltd grew its position in shares of State Street by 9.7% during the 1st quarter. IFM Investors Pty Ltd now owns 84,534 shares of the asset manager’s stock worth $10,699,000 after buying an additional 7,469 shares during the period. Clean Yield Group lifted its holdings in State Street by 8,247.4% in the fourth quarter. Clean Yield Group now owns 19,199 shares of the asset manager’s stock valued at $2,477,000 after buying an additional 18,969 shares during the period. Concurrent Investment Advisors LLC bought a new position in State Street in the fourth quarter valued at approximately $1,959,000. New York State Teachers Retirement System grew its holdings in State Street by 9.7% during the 1st quarter. New York State Teachers Retirement System now owns 303,919 shares of the asset manager’s stock worth $38,464,000 after acquiring an additional 26,862 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new stake in State Street during the 4th quarter worth $935,000. Institutional investors own 87.44% of the company’s stock.

Insider Activity

In other State Street news, EVP W. Bradford Hu sold 9,758 shares of State Street stock in a transaction dated 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 sale, the executive vice president owned 49,794 shares of the company’s stock, valued at $9,187,988.88. This trade represents a 16.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hanley Ronald P. O sold 14,553 shares of the business’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $184.17, for a total value of $2,680,226.01. Following the completion of the sale, the chief executive officer 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 49,576 shares of company stock worth $8,415,875 over the last quarter. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

STT has been the topic of a number of analyst reports. Evercore set a $200.00 price target on State Street in a research note on Monday, July 20th. JPMorgan Chase & Co. increased their target price on State Street from $176.50 to $187.00 and gave the company a “neutral” rating in a research note on Tuesday. Barclays raised their target price on State Street from $165.00 to $200.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Argus boosted their target price on State Street from $140.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Finally, Weiss Ratings upgraded shares of State Street from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $185.38.

Get Our Latest Report on State Street

State Street Stock Up 1.1%

NYSE:STT opened at $187.29 on Thursday. State Street Corporation has a 1 year low of $104.64 and a 1 year high of $192.51. The stock has a 50-day moving average price of $173.68 and a two-hundred day moving average price of $148.89. The stock has a market cap of $51.45 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 0.77 and a beta of 1.41. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04.

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, 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 for the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the previous year, the business posted $2.04 EPS. State Street’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, equities analysts expect that State Street Corporation will post 13.68 earnings per share for the current year.

State Street Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Thursday, October 1st will be paid a $0.92 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This is an increase from State Street’s previous quarterly dividend of $0.84. This represents a $3.68 dividend on an annualized basis and a yield of 2.0%. State Street’s payout ratio is presently 32.45%.

State Street Company Profile

(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.

Further Reading

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

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