Janus Henderson Group PLC Has $9.35 Million Stake in State Street Corporation $STT

Janus Henderson Group PLC boosted its holdings in State Street Corporation (NYSE:STT) by 77.9% in the first quarter, Holdings Channel reports. The firm owned 73,841 shares of the asset manager’s stock after purchasing an additional 32,341 shares during the quarter. Janus Henderson Group PLC’s holdings in State Street were worth $9,346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wilkerson Advisory Group LLC acquired a new position in shares of State Street during the 4th quarter worth about $29,000. JPL Wealth Management LLC acquired a new stake in shares of State Street in the third quarter valued at about $29,000. Phillip James Consulting Co. bought a new stake in State Street during the fourth quarter worth about $30,000. Whipplewood Advisors LLC acquired a new position in State Street during the first quarter valued at approximately $34,000. Finally, Reflection Asset Management bought a new position in shares of State Street in the fourth quarter valued at $35,000. 87.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on STT shares. Morgan Stanley raised their price objective on State Street from $183.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Keefe, Bruyette & Woods boosted their price objective on State Street from $195.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Seaport Research Partners reiterated a “buy” rating and set a $170.00 target price on shares of State Street in a research note on Monday, April 20th. UBS Group set a $176.00 price target on State Street in a report on Friday, June 26th. Finally, Citigroup boosted their price target on State Street from $193.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $185.38.

State Street Stock Up 1.1%

NYSE STT opened at $187.29 on Thursday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. State Street Corporation has a 1-year low of $104.64 and a 1-year high of $192.51. The company has a 50 day moving average of $173.68 and a 200-day moving average of $148.89. The company has a market cap of $51.45 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 0.77 and a beta of 1.41.

State Street (NYSE:STT) last issued its quarterly earnings results on Thursday, July 16th. The asset manager reported $3.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.34 by $0.31. State Street had a return on equity of 15.26% and a net margin of 15.02%.The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the prior year, the business posted $2.04 earnings per share. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, equities research analysts expect that State Street Corporation will post 13.68 earnings per share for the current fiscal year.

State Street Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.92 per share. This is an increase from State Street’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $3.68 annualized dividend and a dividend yield of 2.0%. State Street’s payout ratio is currently 32.45%.

Insider Transactions at State Street

In related news, CEO Hanley Ronald P. O sold 14,553 shares of the company’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $184.17, for a total transaction of $2,680,226.01. Following the completion of the sale, the chief executive officer owned 240,959 shares of the company’s stock, valued at $44,377,419.03. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Bradford Hu sold 9,758 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $184.52, for a total transaction of $1,800,546.16. Following the sale, the executive vice president owned 49,794 shares in the company, valued at $9,187,988.88. The trade was a 16.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 49,576 shares of company stock valued at $8,415,875. 0.27% of the stock is owned by corporate insiders.

State Street Company Profile

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.