Oregon Public Employees Retirement Fund Increases Stake in State Street Corp (NYSE:STT)

Oregon Public Employees Retirement Fund lifted its stake in State Street Corp (NYSE:STT) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,225 shares of the asset manager’s stock after purchasing an additional 236 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in State Street were worth $2,255,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in STT. Boenning & Scattergood Inc. raised its position in State Street by 2.5% during the 2nd quarter. Boenning & Scattergood Inc. now owns 16,370 shares of the asset manager’s stock worth $918,000 after buying an additional 400 shares during the last quarter. Ridgewood Investments LLC raised its position in State Street by 113.8% during the 2nd quarter. Ridgewood Investments LLC now owns 10,872 shares of the asset manager’s stock worth $609,000 after buying an additional 5,786 shares during the last quarter. Bridge Creek Capital Management LLC raised its position in State Street by 7.0% during the 2nd quarter. Bridge Creek Capital Management LLC now owns 50,881 shares of the asset manager’s stock worth $2,852,000 after buying an additional 3,350 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of State Street by 2.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 91,481 shares of the asset manager’s stock worth $5,128,000 after purchasing an additional 1,864 shares during the period. Finally, Exane Derivatives grew its stake in shares of State Street by 56.9% during the 2nd quarter. Exane Derivatives now owns 4,525 shares of the asset manager’s stock worth $254,000 after purchasing an additional 1,641 shares during the period. 89.45% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Saint-Aignan Patrick De purchased 500 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were purchased at an average price of $58.85 per share, with a total value of $29,425.00. Following the purchase, the director now owns 28,793 shares of the company’s stock, valued at $1,694,468.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey N. Carp sold 25,000 shares of State Street stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $63.22, for a total transaction of $1,580,500.00. The disclosure for this sale can be found here. Insiders purchased a total of 5,500 shares of company stock worth $338,925 in the last three months. 0.40% of the stock is owned by corporate insiders.

STT has been the topic of a number of analyst reports. UBS Group raised their price objective on shares of State Street from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. ValuEngine cut shares of State Street from a “hold” rating to a “sell” rating in a research note on Thursday. Royal Bank of Canada dropped their price objective on shares of State Street from $80.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Wednesday, June 19th. Bank of America reaffirmed a “buy” rating and set a $65.00 price objective (down previously from $75.00) on shares of State Street in a research note on Thursday, June 6th. Finally, Morgan Stanley cut shares of State Street from an “overweight” rating to an “underweight” rating and dropped their price objective for the stock from $69.00 to $55.00 in a research note on Monday, July 8th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $69.42.

State Street stock traded up $0.07 during trading on Friday, reaching $55.66. The company had a trading volume of 2,670,322 shares, compared to its average volume of 3,645,180. The company has a 50-day moving average of $56.65. State Street Corp has a 1-year low of $53.53 and a 1-year high of $90.20. The company has a market capitalization of $21.64 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 0.93 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.48 and a quick ratio of 0.45.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, July 19th. The asset manager reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.05. State Street had a net margin of 17.66% and a return on equity of 12.13%. The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter last year, the company earned $2.05 EPS. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, analysts expect that State Street Corp will post 5.84 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Monday, July 1st were paid a $0.47 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.88 dividend on an annualized basis and a yield of 3.38%. State Street’s dividend payout ratio is currently 26.04%.

State Street Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; 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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Institutional Ownership by Quarter for State Street (NYSE:STT)

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