State Street Corporation $STT Shares Bought by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its stake in State Street by 15.4% in Q4 to 2,829,271 shares, representing about 1.01% of the company and valued at roughly $367.0 million.
• Quarterly results beat expectations: State Street reported EPS of $2.97 versus $2.82 expected and revenue of $3.67 billion versus $3.57 billion expected, with revenue up 7.5% year‑over‑year and analysts forecasting ~9.68 EPS for the fiscal year.
• Dividend announced: a quarterly payout of $0.84 per share (annualized $3.36) implying a ~2.8% yield, with the ex‑dividend/record date listed as April 1.

Nordea Investment Management AB boosted its stake in shares of State Street Corporation (NYSE:STT - Free Report) by 15.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,829,271 shares of the asset manager's stock after buying an additional 377,568 shares during the quarter. Nordea Investment Management AB owned 1.01% of State Street worth $367,041,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in STT. True Wealth Design LLC increased its stake in State Street by 166.3% during the third quarter. True Wealth Design LLC now owns 253 shares of the asset manager's stock worth $29,000 after purchasing an additional 158 shares during the period. JPL Wealth Management LLC purchased a new position in shares of State Street in the third quarter valued at approximately $29,000. Flagship Wealth Advisors LLC acquired a new position in shares of State Street in the third quarter valued at approximately $35,000. Measured Wealth Private Client Group LLC acquired a new position in shares of State Street in the third quarter valued at approximately $35,000. Finally, SJS Investment Consulting Inc. increased its stake in State Street by 2,142.9% during the 3rd quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager's stock worth $36,000 after buying an additional 300 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Price Performance

Shares of STT opened at $121.52 on Friday. The firm has a market capitalization of $33.87 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 1.07 and a beta of 1.43. The firm's fifty day simple moving average is $127.73 and its 200-day simple moving average is $122.27. State Street Corporation has a twelve month low of $72.81 and a twelve month high of $137.05. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.15. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.57 billion. State Street had a net margin of 13.02% and a return on equity of 13.46%. The company's revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.60 earnings per share. Equities analysts forecast that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Wednesday, April 1st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, April 1st. State Street's dividend payout ratio is currently 35.71%.

Wall Street Analyst Weigh In

STT has been the topic of a number of research reports. Wall Street Zen upgraded shares of State Street from a "sell" rating to a "hold" rating in a report on Saturday, January 17th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of State Street in a research report on Tuesday, January 6th. Loop Capital set a $144.00 target price on State Street in a report on Tuesday, January 6th. Citigroup assumed coverage on State Street in a research note on Monday, February 23rd. They set a "buy" rating and a $150.00 target price for the company. Finally, Zacks Research downgraded State Street from a "strong-buy" rating to a "hold" rating in a report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $135.83.

Insider Activity

In other news, EVP John Plansky sold 16,100 shares of the 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 transaction, the executive vice president owned 56,162 shares in the company, valued at approximately $6,982,059.84. This represents a 22.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company's stock.

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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