Arbejdsmarkedets Tillaegspension Invests $23.78 Million in State Street Corporation $STT

Key Points

• Arbejdsmarkedets Tillaegspension disclosed a new fourth-quarter position in State Street, buying 184,361 shares worth about $23.78 million and owning 0.07% of the company.
• State Street’s latest quarter beat expectations, with EPS of $2.84 versus $2.64 expected and revenue of $3.80 billion versus $3.59 billion expected, while revenue rose 15.6% year over year.
• Analysts remain broadly positive: the stock has a Moderate Buy consensus with a target price of $155.77, and shares were trading near $153.60 after a 1.3% gain.

Arbejdsmarkedets Tillaegspension bought a new position in shares of State Street Corporation (NYSE:STT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 184,361 shares of the asset manager's stock, valued at approximately $23,784,000. Arbejdsmarkedets Tillaegspension owned 0.07% of State Street as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Allworth Financial LP grew its holdings in State Street by 24.6% during the fourth quarter. Allworth Financial LP now owns 3,795 shares of the asset manager's stock worth $490,000 after buying an additional 750 shares in the last quarter. Madison Asset Management LLC bought a new stake in State Street during the fourth quarter worth $1,378,000. World Investment Advisors bought a new stake in State Street during the fourth quarter worth $315,000. Valeo Financial Advisors LLC grew its holdings in State Street by 16.8% during the fourth quarter. Valeo Financial Advisors LLC now owns 4,094 shares of the asset manager's stock worth $528,000 after buying an additional 589 shares in the last quarter. Finally, Nwam LLC bought a new stake in State Street during the fourth quarter worth $202,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Ratings Changes

STT has been the subject of a number of recent analyst reports. Seaport Research Partners restated a "buy" rating and issued a $170.00 price objective on shares of State Street in a research note on Monday, April 20th. Zacks Research upgraded State Street from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 21st. Wall Street Zen upgraded State Street from a "sell" rating to a "hold" rating in a research note on Saturday, January 17th. Citigroup upped their price objective on State Street from $150.00 to $172.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada upped their price objective on State Street from $135.00 to $155.00 and gave the company a "sector perform" rating in a research note on Monday, April 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given 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 $155.77.

State Street Stock Up 1.3%

STT stock opened at $153.60 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market capitalization of $42.51 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 0.83 and a beta of 1.45. State Street Corporation has a fifty-two week low of $94.19 and a fifty-two week high of $156.18. The stock has a fifty day moving average of $136.25 and a 200-day moving average of $129.39.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.20. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.59 billion. State Street had a return on equity of 14.22% and a net margin of 13.47%.The firm's quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.04 EPS. As a group, equities research analysts predict that State Street Corporation will post 12.35 earnings per share for the current year.

State Street Announces Dividend

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

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.

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