44,432 Shares in State Street Corporation $STT Purchased by Altrius Capital Management Inc

Key Points

• Altrius Capital Management purchased a new position of 44,432 shares of State Street Corporation (NYSE:STT) in Q4, valued at about $5.73 million, as institutional investors now own roughly 87.44% of the stock.
• State Street beat Q1 estimates with $2.84 EPS vs. $2.64 expected and revenue of $3.80 billion (up 15.6% YoY), prompting several analysts to raise targets (consensus "Moderate Buy" with a $154 average target, with some targets up to $168).
• The company recently paid a quarterly dividend of $0.84 (annualized $3.36) for a yield of about 2.2% and a dividend payout ratio near 34%.

Altrius Capital Management Inc bought a new position in State Street Corporation (NYSE:STT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 44,432 shares of the asset manager's stock, valued at approximately $5,732,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Regents of The University of California purchased a new stake in State Street in the 3rd quarter valued at about $324,576,000. Jones Financial Companies Lllp increased its stake in State Street by 11.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 208,600 shares of the asset manager's stock valued at $24,139,000 after buying an additional 21,810 shares during the last quarter. Machina Capital S.A.S. purchased a new stake in State Street in the 3rd quarter valued at about $2,622,000. AE Wealth Management LLC purchased a new stake in State Street in the 3rd quarter valued at about $6,611,000. Finally, Impax Asset Management Group plc increased its stake in State Street by 49.2% in the 3rd quarter. Impax Asset Management Group plc now owns 127,984 shares of the asset manager's stock valued at $14,847,000 after buying an additional 42,198 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

State Street Stock Up 0.1%

Shares of NYSE:STT opened at $152.12 on Monday. The firm has a fifty day moving average price of $132.73 and a two-hundred day moving average price of $127.35. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.57. State Street Corporation has a one year low of $89.19 and a one year high of $156.18. The company has a market cap of $42.10 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 0.83 and a beta of 1.45.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, beating the consensus estimate of $2.64 by $0.20. State Street had a net margin of 13.47% and a return on equity of 14.22%. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the firm earned $2.04 EPS. The business's quarterly revenue was up 15.6% compared to the same quarter last year. Analysts anticipate that State Street Corporation will post 12.31 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Wednesday, April 1st were given a dividend of $0.84 per share. The ex-dividend date was Wednesday, April 1st. This represents a $3.36 annualized dividend and a dividend yield of 2.2%. State Street's dividend payout ratio (DPR) is 34.08%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Evercore set a $158.00 target price on shares of State Street and gave the company an "outperform" rating in a research report on Monday, April 20th. Morgan Stanley increased their target price on shares of State Street from $155.00 to $166.00 and gave the company an "overweight" rating in a research report on Monday, April 20th. Barclays set a $165.00 target price on shares of State Street in a research report on Monday, April 20th. Citigroup assumed coverage on shares of State Street in a research report on Monday, February 23rd. They set a "buy" rating and a $150.00 target price for the company. Finally, The Goldman Sachs Group increased their target price on shares of State Street from $152.00 to $168.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $154.00.

Insider Activity

In other news, EVP John Plansky sold 16,100 shares of the firm's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the sale, the executive vice president owned 56,162 shares in the company, valued at approximately $6,982,059.84. This trade represents a 22.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael L. Richards sold 3,000 shares of the firm's stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the sale, the executive vice president owned 43,522 shares in the company, valued at approximately $6,697,600.58. This trade represents a 6.45% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 28,711 shares of company stock worth $3,933,032. 0.27% of the stock is currently owned by corporate insiders.

State Street Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.