UniSuper Management Pty Ltd Grows Stock Position in State Street Corporation $STT

UniSuper Management Pty Ltd boosted its holdings in State Street Corporation (NYSE:STT) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,712 shares of the asset manager’s stock after acquiring an additional 2,224 shares during the quarter. UniSuper Management Pty Ltd’s holdings in State Street were worth $2,839,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Nissay Asset Management Corp Japan ADV raised its position in State Street by 0.8% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 36,399 shares of the asset manager’s stock worth $3,259,000 after acquiring an additional 305 shares in the last quarter. NewEdge Advisors LLC raised its position in State Street by 105.2% in the first quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock worth $913,000 after acquiring an additional 5,226 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in State Street by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock worth $2,885,000 after acquiring an additional 918 shares in the last quarter. Curi RMB Capital LLC raised its position in State Street by 96.2% in the first quarter. Curi RMB Capital LLC now owns 4,148 shares of the asset manager’s stock worth $371,000 after acquiring an additional 2,034 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in State Street by 19.1% in the first quarter. Advisors Asset Management Inc. now owns 37,548 shares of the asset manager’s stock worth $3,362,000 after acquiring an additional 6,016 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Up 0.5%

STT opened at $112.18 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.09. The firm has a market cap of $31.83 billion, a P/E ratio of 12.56, a PEG ratio of 1.10 and a beta of 1.50. State Street Corporation has a 52 week low of $72.81 and a 52 week high of $116.37. The business’s fifty day simple moving average is $111.23 and its 200 day simple moving average is $98.70.

State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, July 15th. The asset manager reported $2.53 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.17. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. State Street had a return on equity of 12.96% and a net margin of 12.59%.The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.15 earnings per share. As a group, equities research analysts anticipate that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Increases Dividend

The business also recently disclosed 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. 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. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. State Street’s dividend payout ratio is 37.63%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citigroup upgraded State Street from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $115.00 to $130.00 in a research report on Friday, September 5th. Cfra Research raised State Street from a “hold” rating to a “moderate buy” rating in a report on Tuesday, July 15th. Morgan Stanley upped their target price on State Street from $110.00 to $114.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Wells Fargo & Company upped their target price on State Street from $113.00 to $121.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Finally, Bank of America upped their target price on State Street from $106.00 to $109.00 and gave the company an “underperform” rating in a report on Wednesday, July 16th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.18.

Insider Activity at State Street

In related news, EVP Michael L. Richards sold 990 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $109.29, for a total transaction of $108,197.10. Following the sale, the executive vice president owned 41,332 shares of the company’s stock, valued at $4,517,174.28. This trade represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

About State Street

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.