AXA raised its position in State Street Corp (NYSE:STT) by 39.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 137,981 shares of the asset manager’s stock after buying an additional 39,000 shares during the period. AXA’s holdings in State Street were worth $13,183,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the company. Capital International Investors boosted its holdings in shares of State Street by 63.3% during the third quarter. Capital International Investors now owns 5,771,226 shares of the asset manager’s stock worth $551,383,000 after acquiring an additional 2,237,595 shares during the period. FMR LLC raised its position in shares of State Street by 10.8% in the second quarter. FMR LLC now owns 19,988,755 shares of the asset manager’s stock valued at $1,793,591,000 after buying an additional 1,940,536 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of State Street by 44.8% in the third quarter. Artisan Partners Limited Partnership now owns 4,470,723 shares of the asset manager’s stock valued at $427,133,000 after buying an additional 1,383,249 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of State Street by 103.0% in the second quarter. Parametric Portfolio Associates LLC now owns 1,839,323 shares of the asset manager’s stock valued at $165,042,000 after buying an additional 933,038 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in State Street by 27.7% during the third quarter. JPMorgan Chase & Co. now owns 2,908,094 shares of the asset manager’s stock valued at $278,625,000 after purchasing an additional 630,368 shares in the last quarter. Institutional investors and hedge funds own 88.13% of the company’s stock.
In related news, insider Hannah M. Grove sold 3,200 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $92.64, for a total transaction of $296,448.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Joseph L. Hooley sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $92.60, for a total transaction of $2,315,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,724 shares of company stock valued at $2,659,741. 0.71% of the stock is owned by corporate insiders.
Several research analysts have recently issued reports on STT shares. Zacks Investment Research downgraded shares of State Street from a “buy” rating to a “hold” rating and set a $109.00 price target for the company. in a report on Friday, January 5th. Vining Sparks reaffirmed a “buy” rating and set a $120.00 price target on shares of State Street in a research report on Monday. Citigroup raised shares of State Street from a “neutral” rating to a “buy” rating and set a $102.00 price target on the stock in a research report on Wednesday. Barclays upped their target price on shares of State Street from $104.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, Jefferies Group reiterated a “hold” rating and issued a $107.00 price objective on shares of State Street in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $101.13.
State Street Corp (NYSE STT) traded up $1.53 during trading hours on Thursday, reaching $105.78. 1,637,024 shares of the company traded hands, compared to its average volume of 1,465,353. State Street Corp has a 1-year low of $74.45 and a 1-year high of $105.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.48 and a quick ratio of 0.48. The company has a market capitalization of $39,230.00, a price-to-earnings ratio of 18.30, a P/E/G ratio of 1.49 and a beta of 1.35.
State Street (NYSE:STT) last released its quarterly earnings data on Monday, October 23rd. The asset manager reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.10. State Street had a net margin of 20.56% and a return on equity of 13.03%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the company earned $1.35 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. analysts anticipate that State Street Corp will post 6.25 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.68 dividend on an annualized basis and a yield of 1.59%. State Street’s dividend payout ratio is currently 29.07%.
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State Street Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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