Stoneridge Investment Partners LLC maintained its stake in shares of State Street Corporation (NYSE:STT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,123 shares of the asset manager’s stock at the end of the second quarter. Stoneridge Investment Partners LLC’s holdings in State Street Corporation were worth $370,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of STT. Retirement Systems of Alabama increased its stake in shares of State Street Corporation by 1.0% in the first quarter. Retirement Systems of Alabama now owns 173,546 shares of the asset manager’s stock worth $13,816,000 after buying an additional 1,686 shares during the last quarter. Hermes Investment Management Ltd. increased its stake in shares of State Street Corporation by 36.0% in the first quarter. Hermes Investment Management Ltd. now owns 626,685 shares of the asset manager’s stock worth $49,890,000 after buying an additional 166,031 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of State Street Corporation during the first quarter worth approximately $123,000. Rothschild Investment Corp IL increased its stake in shares of State Street Corporation by 5.9% in the first quarter. Rothschild Investment Corp IL now owns 8,017 shares of the asset manager’s stock worth $638,000 after buying an additional 446 shares during the last quarter. Finally, Ledyard National Bank increased its stake in shares of State Street Corporation by 72.0% in the first quarter. Ledyard National Bank now owns 3,368 shares of the asset manager’s stock worth $268,000 after buying an additional 1,410 shares during the last quarter. 88.62% of the stock is owned by institutional investors.

State Street Corporation (STT) opened at 92.08 on Friday. The stock has a market capitalization of $34.43 billion, a PE ratio of 17.00 and a beta of 1.30. State Street Corporation has a 12 month low of $68.16 and a 12 month high of $96.26. The stock has a 50 day moving average price of $91.78 and a 200 day moving average price of $83.61.

State Street Corporation (NYSE:STT) last posted its quarterly earnings data on Wednesday, July 26th. The asset manager reported $1.67 EPS for the quarter, topping the consensus estimate of $1.57 by $0.10. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.86 billion. State Street Corporation had a return on equity of 12.49% and a net margin of 19.97%. State Street Corporation’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 EPS. On average, equities research analysts forecast that State Street Corporation will post $6.13 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.82%. This is a positive change from State Street Corporation’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, September 29th. State Street Corporation’s dividend payout ratio is 28.15%.

State Street Corporation announced that its board has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to repurchase $1.40 billion in shares. This repurchase authorization authorizes the asset manager to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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A number of brokerages recently commented on STT. Zacks Investment Research raised State Street Corporation from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a research report on Thursday, July 27th. Wells Fargo & Company began coverage on State Street Corporation in a research report on Wednesday. They set an “outperform” rating and a $115.00 price target for the company. Barclays PLC raised their target price on State Street Corporation from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Buckingham Research reissued a “buy” rating and issued a $107.00 target price (up from $94.00) on shares of State Street Corporation in a research report on Monday, July 10th. Finally, Keefe, Bruyette & Woods reissued an “underweight” rating on shares of State Street Corporation in a research report on Thursday, July 13th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $90.18.

In other news, Chairman Joseph L. Hooley sold 5,666 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $87.88, for a total value of $497,928.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider George E. Sullivan sold 2,718 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $81.81, for a total value of $222,359.58. Following the completion of the sale, the insider now owns 73,090 shares of the company’s stock, valued at $5,979,492.90. The disclosure for this sale can be found here. Insiders sold a total of 16,069 shares of company stock valued at $1,422,969 over the last 90 days. 0.64% of the stock is currently owned by company insiders.

About State Street Corporation

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

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