Janney Montgomery Scott LLC Increases Position in State Street Corp (STT)

Janney Montgomery Scott LLC lifted its position in shares of State Street Corp (NYSE:STT) by 11.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,042 shares of the asset manager’s stock after purchasing an additional 1,496 shares during the quarter. Janney Montgomery Scott LLC’s holdings in State Street were worth $1,437,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James Trust N.A. boosted its holdings in State Street by 0.5% in the second quarter. Raymond James Trust N.A. now owns 3,250 shares of the asset manager’s stock worth $291,000 after acquiring an additional 17 shares in the last quarter. Northern Capital Management LLC boosted its holdings in State Street by 0.7% in the second quarter. Northern Capital Management LLC now owns 10,770 shares of the asset manager’s stock worth $966,000 after acquiring an additional 75 shares in the last quarter. Stephens Inc. AR boosted its holdings in State Street by 1.6% in the second quarter. Stephens Inc. AR now owns 4,793 shares of the asset manager’s stock worth $430,000 after acquiring an additional 76 shares in the last quarter. MAI Capital Management boosted its holdings in State Street by 0.4% in the second quarter. MAI Capital Management now owns 22,444 shares of the asset manager’s stock worth $2,014,000 after acquiring an additional 96 shares in the last quarter. Finally, Peapack Gladstone Financial Corp boosted its holdings in State Street by 3.0% in the second quarter. Peapack Gladstone Financial Corp now owns 3,483 shares of the asset manager’s stock worth $313,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 88.13% of the company’s stock.

Several research firms have commented on STT. Zacks Investment Research downgraded State Street from a “buy” rating to a “hold” rating in a report on Friday. Citigroup raised State Street from a “neutral” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Wednesday. Jefferies Group reaffirmed a “hold” rating and set a $107.00 price target on shares of State Street in a report on Tuesday. Vining Sparks reaffirmed a “buy” rating and set a $120.00 price target on shares of State Street in a report on Monday. Finally, Barclays upped their price target on State Street from $104.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $101.13.

State Street Corp (NYSE STT) traded up $1.46 during trading on Friday, reaching $107.24. The company had a trading volume of 1,469,600 shares, compared to its average volume of 1,466,478. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a market capitalization of $39,230.00, a PE ratio of 18.55, a PEG ratio of 1.49 and a beta of 1.35. State Street Corp has a 12 month low of $74.45 and a 12 month high of $107.57.

State Street (NYSE:STT) last issued its quarterly earnings results on Monday, October 23rd. The asset manager reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.10. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. State Street had a return on equity of 13.03% and a net margin of 20.56%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.35 earnings per share. equities research analysts anticipate that State Street Corp will post 6.25 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, December 29th. State Street’s payout ratio is 29.07%.

In other State Street news, insider Hannah M. Grove sold 3,200 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $92.64, for a total value of $296,448.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew Erickson sold 354 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $92.00, for a total value of $32,568.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,724 shares of company stock valued at $2,659,741. Company insiders own 0.71% of the company’s stock.

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About State Street

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.

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

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