PensionDanmark Pensionsforsikringsaktieselskab Has $9.52 Million Stock Holdings in State Street Corporation $STT

PensionDanmark Pensionsforsikringsaktieselskab boosted its holdings in shares of State Street Corporation (NYSE:STT) by 11.5% in the second quarter, Holdings Channel reports. The firm owned 56,117 shares of the asset manager’s stock after purchasing an additional 5,775 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in State Street were worth $9,517,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Regents of The University of California boosted its stake in State Street by 15.6% in the 1st quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager’s stock valued at $1,273,841,000 after buying an additional 1,358,923 shares in the last quarter. Morgan Stanley raised its stake in State Street by 9.0% during the fourth quarter. Morgan Stanley now owns 5,222,382 shares of the asset manager’s stock worth $673,740,000 after acquiring an additional 433,201 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of State Street by 30.8% during the fourth quarter. Victory Capital Management Inc. now owns 4,559,546 shares of the asset manager’s stock valued at $588,227,000 after acquiring an additional 1,074,174 shares during the period. Franklin Resources Inc. boosted its stake in shares of State Street by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 3,926,321 shares of the asset manager’s stock valued at $506,534,000 after purchasing an additional 67,309 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of State Street by 30.4% in the 4th quarter. First Trust Advisors LP now owns 3,582,977 shares of the asset manager’s stock valued at $462,240,000 after purchasing an additional 835,331 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Hanley Ronald P. O sold 14,553 shares of the stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $184.17, for a total value of $2,680,226.01. Following the transaction, the chief executive officer directly owned 240,959 shares in the company, valued at $44,377,419.03. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Bradford Hu sold 9,758 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $184.52, for a total transaction of $1,800,546.16. Following the completion of the transaction, the executive vice president directly owned 49,794 shares in the company, valued at approximately $9,187,988.88. The trade was a 16.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 49,576 shares of company stock valued at $8,415,875. 0.27% of the stock is currently owned by insiders.

State Street Trading Down 0.3%

Shares of STT opened at $184.46 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.04. State Street Corporation has a 12-month low of $104.64 and a 12-month high of $192.51. The firm has a market capitalization of $50.67 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 0.76 and a beta of 1.41. The stock’s fifty day simple moving average is $174.80 and its 200-day simple moving average is $149.54.

State Street (NYSE:STT) last announced its quarterly earnings data on Thursday, July 16th. The asset manager reported $3.65 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.31. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.88 billion. State Street had a return on equity of 15.26% and a net margin of 15.02%.The company’s revenue was up 23.3% on a year-over-year basis. During the same period last year, the company earned $2.04 earnings per share. As a group, research analysts predict that State Street Corporation will post 13.75 earnings per share for the current year.

State Street Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Thursday, October 1st will be paid a $0.92 dividend. This is a boost from State Street’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $3.68 annualized dividend and a dividend yield of 2.0%. State Street’s payout ratio is 32.45%.

Wall Street Analyst Weigh In

STT has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their target price on shares of State Street from $196.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Keefe, Bruyette & Woods lifted their price target on State Street from $195.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Evercore set a $200.00 price objective on shares of State Street in a report on Monday, July 20th. Weiss Ratings upgraded shares of State Street from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, May 28th. Finally, Seaport Research Partners reiterated a “buy” rating and set a $170.00 target price on shares of State Street in a research report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.38.

About State Street

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.