TIAA CREF Trust Co. FSB MO increased its stake in shares of State Street Corp (NYSE:STT) by 1.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,344 shares of the asset manager’s stock after buying an additional 461 shares during the period. TIAA CREF Trust Co. FSB MO’s holdings in State Street Corp were worth $3,132,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the stock. Sandy Spring Bank boosted its position in shares of State Street Corp by 4.8% in the third quarter. Sandy Spring Bank now owns 37,673 shares of the asset manager’s stock valued at $2,634,000 after buying an additional 1,740 shares during the last quarter. Homrich & Berg boosted its position in shares of State Street Corp by 0.5% in the third quarter. Homrich & Berg now owns 11,966 shares of the asset manager’s stock valued at $833,000 after buying an additional 57 shares during the last quarter. Crestwood Advisors LLC boosted its position in shares of State Street Corp by 2.7% in the third quarter. Crestwood Advisors LLC now owns 560,810 shares of the asset manager’s stock valued at $39,049,000 after buying an additional 14,499 shares during the last quarter. First National Trust Co. boosted its position in shares of State Street Corp by 6.9% in the third quarter. First National Trust Co. now owns 43,618 shares of the asset manager’s stock valued at $3,037,000 after buying an additional 2,831 shares during the last quarter. Finally, Welch & Forbes LLC boosted its position in shares of State Street Corp by 0.3% in the third quarter. Welch & Forbes LLC now owns 297,228 shares of the asset manager’s stock valued at $20,696,000 after buying an additional 910 shares during the last quarter. Institutional investors own 85.06% of the company’s stock.
Shares of State Street Corp (NYSE:STT) traded up 1.30% during midday trading on Friday, reaching $80.93. 574,892 shares of the company traded hands. The firm has a market capitalization of $30.45 billion, a PE ratio of 15.14 and a beta of 1.40. State Street Corp has a 12-month low of $50.60 and a 12-month high of $85.38. The company has a 50-day moving average of $80.78 and a 200 day moving average of $79.08.
State Street Corp (NYSE:STT) last issued its quarterly earnings data on Wednesday, April 26th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.11. State Street Corp had a net margin of 20.16% and a return on equity of 12.13%. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the prior year, the firm posted $0.98 EPS. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities analysts forecast that State Street Corp will post $5.94 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 18th. Shareholders of record on Monday, July 3rd will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Thursday, June 29th. State Street Corp’s payout ratio is 30.52%.
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Several equities analysts have recently weighed in on the company. Goldman Sachs Group Inc raised their price objective on State Street Corp from $88.00 to $92.00 and gave the company a “buy” rating in a report on Monday, May 1st. Keefe, Bruyette & Woods set a $88.00 price objective on State Street Corp and gave the company a “hold” rating in a report on Wednesday, April 26th. Evercore ISI cut State Street Corp from a “hold” rating to an “underperform” rating and set a $82.00 price objective for the company. in a report on Friday, March 3rd. Deutsche Bank AG decreased their price objective on State Street Corp from $81.00 to $80.00 and set a “hold” rating for the company in a report on Monday, April 24th. Finally, Jefferies Group LLC cut State Street Corp from a “buy” rating to a “hold” rating and decreased their price objective for the company from $89.00 to $87.00 in a report on Tuesday, April 11th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. State Street Corp presently has an average rating of “Hold” and a consensus price target of $84.62.
In other State Street Corp news, insider George E. Sullivan sold 2,718 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $81.81, for a total value of $222,359.58. Following the transaction, the insider now directly owns 73,090 shares in the company, valued at $5,979,492.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Karen C. Keenan sold 1,000 shares of the business’s stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $78.56, for a total transaction of $78,560.00. Following the completion of the transaction, the executive vice president now owns 60,934 shares in the company, valued at $4,786,975.04. The disclosure for this sale can be found here. Insiders sold a total of 25,747 shares of company stock valued at $2,050,652 over the last ninety days. 0.64% of the stock is currently owned by insiders.
State Street Corp Company 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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