State Street Corp. (STT) Position Maintained by Pacific Heights Asset Management LLC
Pacific Heights Asset Management LLC maintained its stake in State Street Corp. (NYSE:STT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 210,000 shares of the company’s stock at the end of the second quarter. Pacific Heights Asset Management LLC owned about 0.05% of State Street Corp. worth $11,323,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Legal & General Group Plc increased its stake in shares of State Street Corp. by 4.6% in the first quarter. Legal & General Group Plc now owns 1,839,918 shares of the company’s stock worth $107,671,000 after buying an additional 81,262 shares during the period. Strs Ohio increased its stake in shares of State Street Corp. by 0.3% in the second quarter. Strs Ohio now owns 650,842 shares of the company’s stock worth $35,093,000 after buying an additional 2,180 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of State Street Corp. by 2.6% in the first quarter. Envestnet Asset Management Inc. now owns 61,370 shares of the company’s stock worth $3,591,000 after buying an additional 1,541 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in shares of State Street Corp. during the first quarter worth about $5,197,000. Finally, National Pension Service increased its stake in shares of State Street Corp. by 4.1% in the first quarter. National Pension Service now owns 240,671 shares of the company’s stock worth $14,084,000 after buying an additional 9,566 shares during the period. Institutional investors own 86.03% of the company’s stock.
Shares of State Street Corp. (NYSE:STT) traded up 0.27% during mid-day trading on Monday, hitting $69.82. The stock had a trading volume of 1,861,223 shares. State Street Corp. has a 12 month low of $50.60 and a 12 month high of $75.40. The stock’s 50-day moving average is $69.71 and its 200 day moving average is $62.20. The firm has a market cap of $27.23 billion, a PE ratio of 14.24 and a beta of 1.52.
State Street Corp. (NYSE:STT) last announced its earnings results on Wednesday, July 27th. The company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.20. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.65 billion. State Street Corp. had a return on equity of 11.22% and a net margin of 20.19%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.36 earnings per share. Equities research analysts predict that State Street Corp. will post $0.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be given a $0.38 dividend. This is a positive change from State Street Corp.’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, September 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.18%. State Street Corp.’s payout ratio is presently 30.89%.
STT has been the topic of a number of recent research reports. Deutsche Bank AG decreased their price objective on State Street Corp. from $67.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, June 16th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of State Street Corp. in a research note on Tuesday, June 28th. Jefferies Group upped their target price on State Street Corp. from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, September 6th. Barclays PLC reaffirmed a “buy” rating on shares of State Street Corp. in a research note on Saturday, July 9th. Finally, Keefe, Bruyette & Woods upped their target price on State Street Corp. from $54.00 to $58.00 and gave the company an “underperform” rating in a research note on Thursday, July 28th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $70.35.
In other State Street Corp. news, EVP Jeffrey N. Carp sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $55.00, for a total value of $275,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Karen C. Keenan sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $70.00, for a total value of $525,000.00. Following the completion of the sale, the executive vice president now directly owns 49,547 shares in the company, valued at approximately $3,468,290. The disclosure for this sale can be found here. 0.64% of the stock is owned by company insiders.
State Street Corp. Company Profile
State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world.
Receive News & Stock Ratings for State Street Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street Corp. and related stocks with our FREE daily email newsletter.