Dimensional Fund Advisors LP Purchases 51,754 Shares of State Street Corporation $STT

Dimensional Fund Advisors LP raised its position in shares of State Street Corporation (NYSE:STT - Free Report) by 1.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,101,952 shares of the asset manager's stock after purchasing an additional 51,754 shares during the quarter. Dimensional Fund Advisors LP owned 1.12% of State Street worth $392,539,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Wilkerson Advisory Group LLC bought a new stake in shares of State Street during the 4th quarter valued at $29,000. JPL Wealth Management LLC bought a new position in State Street in the 3rd quarter worth $29,000. Phillip James Consulting Co. bought a new position in State Street in the 4th quarter worth $30,000. Whipplewood Advisors LLC purchased a new stake in State Street in the 1st quarter worth $34,000. Finally, Reflection Asset Management purchased a new stake in State Street in the 4th quarter worth $35,000. 87.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on STT. Argus boosted their price objective on State Street from $140.00 to $168.00 and gave the company a "buy" rating in a research report on Tuesday, April 21st. Keefe, Bruyette & Woods increased their target price on State Street from $195.00 to $215.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. JPMorgan Chase & Co. lifted their target price on State Street from $158.50 to $176.50 and gave the company a "neutral" rating in a research note on Monday, July 6th. Royal Bank Of Canada boosted their price target on State Street from $155.00 to $196.00 and gave the stock a "sector perform" rating in a report on Friday, July 17th. Finally, UBS Group set a $176.00 price target on State Street in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, State Street presently has an average rating of "Moderate Buy" and a consensus target price of $184.72.

State Street Stock Up 0.4%

Shares of STT stock opened at $183.39 on Wednesday. The company's fifty day simple moving average is $167.13 and its two-hundred day simple moving average is $144.93. State Street Corporation has a 52 week low of $104.64 and a 52 week high of $192.51. The stock has a market cap of $50.76 billion, a P/E ratio of 16.17, a PEG ratio of 0.89 and a beta of 1.42. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The asset manager reported $3.65 earnings per share for the quarter, beating analysts' consensus estimates of $3.34 by $0.31. State Street had a return on equity of 15.26% and a net margin of 15.02%.The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same quarter last year, the business posted $2.04 earnings per share. The business's quarterly revenue was up 23.3% compared to the same quarter last year. Analysts predict that State Street Corporation will post 13.44 EPS for the current fiscal year.

State Street Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.92 per share. The ex-dividend date is Thursday, October 1st. This represents a $3.68 annualized dividend and a yield of 2.0%. This is a boost from State Street's previous quarterly dividend of $0.84. State Street's dividend payout ratio (DPR) is 32.45%.

Insider Buying and Selling at State Street

In other news, EVP W. Bradford Hu sold 9,212 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total transaction of $1,431,084.20. Following the completion of the transaction, the executive vice president directly owned 59,552 shares in the company, valued at approximately $9,251,403.20. This represents a 13.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael L. Richards sold 1,500 shares of the firm's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $162.14, for a total transaction of $243,210.00. Following the completion of the transaction, the executive vice president directly owned 41,827 shares of the company's stock, valued at approximately $6,781,829.78. This trade represents a 3.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 25,265 shares of company stock worth $3,935,103 in the last quarter. 0.27% of the stock is owned by corporate insiders.

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.

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