Czech National Bank Grows Stock Position in State Street Co. (NYSE:STT)

Czech National Bank boosted its stake in shares of State Street Co. (NYSE:STT) by 4.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 66,256 shares of the asset manager’s stock after buying an additional 2,695 shares during the period. Czech National Bank’s holdings in State Street were worth $5,932,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Adero Partners LLC increased its stake in State Street by 3.6% in the fourth quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock worth $285,000 after purchasing an additional 100 shares during the period. Jacobi Capital Management LLC increased its stake in State Street by 1.0% in the fourth quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock worth $1,201,000 after purchasing an additional 121 shares during the period. Moors & Cabot Inc. increased its stake 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 State Street by 13.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,157 shares of the asset manager’s stock worth $104,000 after purchasing an additional 134 shares during the period. Finally, Apollon Wealth Management LLC increased its stake in State Street by 1.4% in the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock worth $986,000 after purchasing an additional 138 shares during the period. 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 State Street stock in a transaction that occurred 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 sale, the chief accounting officer now owns 7,354 shares in the company, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on STT. Evercore ISI cut their price target on State Street from $109.00 to $106.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 1st. Barclays cut their price target on State Street from $127.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company cut their price target on State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Citigroup cut their price target on State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Finally, 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 research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $104.23.

State Street Price Performance

Shares of NYSE STT opened at $96.15 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a fifty day moving average of $88.85 and a 200 day moving average of $93.98. The firm has a market cap of $27.42 billion, a PE ratio of 11.67, a PEG ratio of 1.11 and a beta of 1.42. State Street Co. has a one year low of $70.20 and a one year high of $103.00.

State Street (NYSE:STT) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same quarter last year, the firm posted $1.69 EPS. As a group, research analysts predict that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued a $0.76 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 annualized dividend and a yield of 3.16%. State Street’s payout ratio is 34.12%.

State Street Company 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.