Robeco Institutional Asset Management B.V. Purchases 28,495 Shares of State Street Corporation (NYSE:STT)

Robeco Institutional Asset Management B.V. grew its position in shares of State Street Corporation (NYSE:STT - Free Report) by 3.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 897,016 shares of the asset manager's stock after acquiring an additional 28,495 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.31% of State Street worth $80,310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Jacobi Capital Management LLC lifted its position in State Street by 1.0% during the fourth quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock valued at $1,201,000 after buying an additional 121 shares during the period. Moors & Cabot Inc. grew its holdings in State Street by 0.7% in the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock worth $1,799,000 after purchasing an additional 131 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of State Street by 13.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,157 shares of the asset manager's stock valued at $104,000 after purchasing an additional 134 shares in the last quarter. Huntington National Bank boosted its position in shares of State Street by 1.3% in the 4th quarter. Huntington National Bank now owns 11,671 shares of the asset manager's stock worth $1,146,000 after purchasing an additional 150 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of State Street by 8.4% in the 1st quarter. UMB Bank n.a. now owns 2,272 shares of the asset manager's stock worth $203,000 after buying an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.

Insider Activity

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the transaction, the chief accounting officer now owns 7,354 shares of the company's stock, valued at approximately $667,154.88. This represents a 15.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company's stock.

State Street Stock Performance

Shares of STT opened at $105.57 on Friday. The firm has a market capitalization of $30.11 billion, a P/E ratio of 11.85, a PEG ratio of 1.22 and a beta of 1.44. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.57 and a quick ratio of 0.57. State Street Corporation has a one year low of $71.96 and a one year high of $105.85. The business has a fifty day moving average of $94.90 and a 200 day moving average of $94.20.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating the consensus estimate of $1.98 by $0.06. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. State Street had a net margin of 12.85% and a return on equity of 12.79%. During the same quarter in the prior year, the firm earned $1.69 EPS. As a group, sell-side analysts anticipate that State Street Corporation will post 9.68 EPS for the current year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Tuesday, July 1st. State Street's dividend payout ratio is presently 34.12%.

Wall Street Analysts Forecast Growth

STT has been the subject of several analyst reports. Bank of America raised their price target on State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a report on Wednesday, April 2nd. Cfra Research cut shares of State Street from a "moderate buy" rating to a "hold" rating in a research note on Thursday, May 29th. Citigroup reduced their price objective on shares of State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Wells Fargo & Company decreased their target price on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Finally, The Goldman Sachs Group set a $98.00 price target on shares of State Street and gave the company a "buy" rating in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $102.54.

State Street Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

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