B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund bought a new position in State Street Corp (NYSE:STT) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,154 shares of the asset manager’s stock, valued at approximately $294,000.
Other large investors have also recently added to or reduced their stakes in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in State Street in the 2nd quarter worth approximately $109,000. Adviser Investments LLC bought a new stake in State Street in the 1st quarter worth approximately $145,000. Delta Asset Management LLC TN bought a new stake in State Street in the 2nd quarter worth approximately $142,000. Signaturefd LLC bought a new stake in State Street in the 1st quarter worth approximately $160,000. Finally, Institutional & Family Asset Management LLC bought a new stake in State Street in the 1st quarter worth approximately $162,000. Institutional investors own 86.64% of the company’s stock.
Shares of State Street stock opened at $87.29 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $31.66 billion, a price-to-earnings ratio of 14.65, a P/E/G ratio of 1.04 and a beta of 1.19. State Street Corp has a one year low of $82.43 and a one year high of $114.27.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, September 28th. This is a boost from State Street’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 2.15%. State Street’s payout ratio is 28.19%.
In other news, insider Jeff D. Conway sold 343 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $83.16, for a total transaction of $28,523.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP George E. Sullivan sold 1,611 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $83.18, for a total value of $134,002.98. Following the transaction, the executive vice president now directly owns 58,847 shares in the company, valued at $4,894,893.46. The disclosure for this sale can be found here. Insiders have sold 26,954 shares of company stock worth $2,237,777 over the last three months. Insiders own 0.40% of the company’s stock.
STT has been the subject of a number of recent research reports. Credit Suisse Group dropped their target price on State Street from $110.00 to $103.00 and set a “$87.02” rating for the company in a research report on Monday, July 23rd. Barclays decreased their price target on State Street from $120.00 to $110.00 and set a “$87.02” rating on the stock in a research note on Monday, July 23rd. Zacks Investment Research raised State Street from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a research note on Wednesday, May 30th. Deutsche Bank decreased their price target on State Street from $116.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 29th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $100.00 price target on shares of State Street in a research note on Monday, July 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $105.71.
About State Street
State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
Further Reading: Growth Stocks
Want to see what other hedge funds are holding STT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for State Street Corp (NYSE:STT).
Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.