State Street Corporation (NYSE:STT) Stock Holdings Raised by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC raised its stake in State Street Corporation (NYSE:STT - Free Report) by 200.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,763 shares of the asset manager's stock after buying an additional 12,527 shares during the quarter. Crestwood Advisors Group LLC's holdings in State Street were worth $1,680,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in STT. Allianz Asset Management GmbH grew its position in State Street by 404.7% in the 1st quarter. Allianz Asset Management GmbH now owns 586,052 shares of the asset manager's stock worth $52,469,000 after purchasing an additional 469,936 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in State Street by 8.8% during the first quarter. Kestra Private Wealth Services LLC now owns 5,118 shares of the asset manager's stock worth $458,000 after acquiring an additional 414 shares in the last quarter. Retirement Planning Co of New England Inc. bought a new stake in State Street during the first quarter worth $242,000. Commerzbank Aktiengesellschaft FI raised its position in shares of State Street by 14.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 19,848 shares of the asset manager's stock valued at $1,777,000 after purchasing an additional 2,575 shares during the period. Finally, Ascent Wealth Partners LLC raised its position in shares of State Street by 85.2% in the first quarter. Ascent Wealth Partners LLC now owns 7,661 shares of the asset manager's stock valued at $686,000 after purchasing an additional 3,524 shares during the period. Institutional investors and hedge funds own 87.44% of the company's stock.

State Street Stock Down 0.4%

Shares of STT opened at $108.03 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.57 and a current ratio of 0.57. State Street Corporation has a one year low of $72.81 and a one year high of $110.97. The stock has a market capitalization of $30.81 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 1.21 and a beta of 1.45. The stock has a 50 day moving average price of $101.31 and a 200 day moving average price of $95.20.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The asset manager reported $2.53 EPS for the quarter, beating the consensus estimate of $2.36 by $0.17. State Street had a return on equity of 12.96% and a net margin of 12.59%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the company posted $2.15 EPS. The company's quarterly revenue was up 2.9% on a year-over-year basis. Equities research analysts forecast that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Wednesday, October 1st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Wednesday, October 1st. This is an increase from State Street's previous quarterly dividend of $0.76. State Street's dividend payout ratio (DPR) is currently 34.04%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on STT shares. Citigroup raised their price target on shares of State Street from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Evercore ISI lifted their price target on shares of State Street from $102.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Wells Fargo & Company lifted their price target on shares of State Street from $113.00 to $121.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods dropped their target price on shares of State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Finally, Cfra Research upgraded shares of State Street from a "hold" rating to a "moderate buy" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $112.00.

Insider Transactions at State Street

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the sale, the chief accounting officer directly owned 7,354 shares of the company's stock, valued at approximately $667,154.88. This trade represents a 15.02% 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. 0.29% of the stock is owned by corporate insiders.

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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