Swedbank AB Has $16.73 Million Stock Holdings in State Street Corporation $STT

Swedbank AB raised its position in State Street Corporation (NYSE:STT) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,221 shares of the asset manager’s stock after acquiring an additional 5,726 shares during the period. Swedbank AB owned about 0.05% of State Street worth $16,731,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of STT. Brighton Jones LLC bought a new position in State Street in the fourth quarter worth $296,000. Kestra Advisory Services LLC raised its stake in shares of State Street by 130.3% in the 1st quarter. Kestra Advisory Services LLC now owns 18,194 shares of the asset manager’s stock valued at $1,629,000 after buying an additional 10,294 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of State Street by 10.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 12,685 shares of the asset manager’s stock valued at $1,136,000 after buying an additional 1,220 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of State Street by 4.4% during the 1st quarter. BNP Paribas Financial Markets now owns 663,925 shares of the asset manager’s stock worth $59,441,000 after acquiring an additional 28,041 shares during the period. Finally, OMERS ADMINISTRATION Corp boosted its position in shares of State Street by 15.8% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 31,717 shares of the asset manager’s stock valued at $2,840,000 after acquiring an additional 4,332 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Trading Up 0.1%

STT stock opened at $132.37 on Friday. The business has a fifty day moving average price of $120.54 and a 200 day moving average price of $113.87. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.59. State Street Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $133.00. The stock has a market capitalization of $36.97 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.22 and a beta of 1.44.

State Street (NYSE:STT) last announced its earnings results on Friday, October 17th. The asset manager reported $2.78 EPS for the quarter, topping the consensus estimate of $2.57 by $0.21. State Street had a return on equity of 13.37% and a net margin of 13.14%.The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the prior year, the business earned $2.26 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts expect that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Friday, January 2nd will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 35.56%.

Insider Buying and Selling at State Street

In other State Street news, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $117.24, for a total value of $175,860.00. Following the completion of the transaction, the executive vice president directly owned 38,626 shares of the company’s stock, valued at approximately $4,528,512.24. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STT. BMO Capital Markets assumed coverage on shares of State Street in a research report on Friday, October 3rd. They issued an “outperform” rating and a $130.00 price target for the company. The Goldman Sachs Group increased their target price on State Street from $109.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Cowen restated a “buy” rating on shares of State Street in a research report on Tuesday, October 21st. Citigroup upped their price target on State Street from $130.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, Wells Fargo & Company lifted their price objective on State Street from $121.00 to $129.00 and gave the company an “overweight” rating in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, State Street currently has an average rating of “Moderate Buy” and an average target price of $129.00.

State Street Profile

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.