Xact Kapitalforvaltning AB boosted its holdings in State Street Corp (NYSE:STT) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,843 shares of the asset manager’s stock after acquiring an additional 5,763 shares during the period. Xact Kapitalforvaltning AB’s holdings in State Street were worth $8,965,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. CNB Bank bought a new stake in State Street in the 4th quarter valued at $141,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in State Street by 8.1% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 222,003 shares of the asset manager’s stock valued at $21,670,000 after acquiring an additional 16,689 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in State Street by 44.8% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 22,942 shares of the asset manager’s stock valued at $2,239,000 after buying an additional 7,100 shares in the last quarter. Banco de Sabadell S.A acquired a new position in State Street in the 4th quarter valued at $2,027,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its holdings in State Street by 27.0% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 175,700 shares of the asset manager’s stock valued at $17,150,000 after buying an additional 37,400 shares in the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.
A number of research analysts have commented on the company. Morgan Stanley upped their price objective on State Street from $114.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. ValuEngine raised State Street from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised State Street from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a report on Thursday, January 25th. Keefe, Bruyette & Woods set a $120.00 price objective on State Street and gave the company a “buy” rating in a report on Tuesday, January 23rd. Finally, Bank of America upped their price objective on State Street from $108.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. State Street has an average rating of “Buy” and a consensus target price of $110.21.
In other news, CAO Elizabeth Schaefer sold 1,473 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $105.00, for a total transaction of $154,665.00. Following the sale, the chief accounting officer now directly owns 9,362 shares of the company’s stock, valued at approximately $983,010. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Andrew P. Kuritzkes sold 10,248 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.17, for a total value of $1,108,526.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,531 shares of company stock worth $5,146,169. 0.71% of the stock is currently owned by insiders.
Shares of State Street Corp (NYSE STT) opened at $101.50 on Friday. The stock has a market capitalization of $39,269.04, a price-to-earnings ratio of 16.64, a PEG ratio of 1.39 and a beta of 1.29. State Street Corp has a 1-year low of $75.37 and a 1-year high of $114.27. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.61.
State Street (NYSE:STT) last released its earnings results on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.10). The company had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.98 billion. State Street had a return on equity of 13.41% and a net margin of 17.94%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $1.48 earnings per share. research analysts anticipate that State Street Corp will post 7.68 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, March 29th. State Street’s dividend payout ratio (DPR) is currently 32.12%.
ILLEGAL ACTIVITY WARNING: “State Street Corp (STT) Shares Bought by Xact Kapitalforvaltning AB” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://ledgergazette.com/2018/03/23/state-street-corp-stt-shares-bought-by-xact-kapitalforvaltning-ab.html.
State Street 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.
Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.