Numeric Investors LLC grew its position in shares of State Street Corporation (NYSE:STT) by 638.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 288,000 shares of the asset manager’s stock after buying an additional 249,000 shares during the quarter. Numeric Investors LLC owned 0.08% of State Street Corporation worth $25,842,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Brandywine Global Investment Management LLC raised its position in State Street Corporation by 5.5% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 417,752 shares of the asset manager’s stock worth $37,485,000 after buying an additional 21,674 shares during the last quarter. Bank of Hawaii raised its position in State Street Corporation by 4.8% during the 2nd quarter. Bank of Hawaii now owns 8,818 shares of the asset manager’s stock worth $791,000 after buying an additional 403 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in State Street Corporation by 103.0% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,839,323 shares of the asset manager’s stock worth $165,042,000 after buying an additional 933,038 shares during the last quarter. Advisor Group Inc. raised its position in State Street Corporation by 15.6% during the 2nd quarter. Advisor Group Inc. now owns 38,689 shares of the asset manager’s stock worth $3,471,000 after buying an additional 5,235 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in State Street Corporation by 16.8% during the 2nd quarter. Nordea Investment Management AB now owns 208,710 shares of the asset manager’s stock worth $18,728,000 after buying an additional 29,981 shares during the last quarter. Institutional investors own 87.41% of the company’s stock.

A number of brokerages have commented on STT. UBS AG upgraded shares of State Street Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $86.00 to $92.00 in a research report on Monday, June 5th. Keefe, Bruyette & Woods set a $88.00 price objective on shares of State Street Corporation and gave the stock a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research downgraded shares of State Street Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company started coverage on shares of State Street Corporation in a research report on Wednesday, August 9th. They set an “outperform” rating and a $115.00 price objective for the company. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $87.00 price target on shares of State Street Corporation in a research note on Monday, June 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. State Street Corporation presently has a consensus rating of “Hold” and an average target price of $93.80.

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Shares of State Street Corporation (STT) traded down 0.36% during midday trading on Thursday, reaching $95.20. 95,532 shares of the company were exchanged. The company has a market capitalization of $35.60 billion, a PE ratio of 17.58 and a beta of 1.31. The firm’s 50 day moving average is $93.36 and its 200-day moving average is $86.39. State Street Corporation has a 52-week low of $68.16 and a 52-week high of $96.39.

State Street Corporation (NYSE:STT) last issued its quarterly earnings results on Wednesday, July 26th. The asset manager reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The firm had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.86 billion. State Street Corporation had a return on equity of 12.49% and a net margin of 19.97%. State Street Corporation’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the business posted $1.46 EPS. On average, equities analysts forecast that State Street Corporation will post $6.16 earnings per share for the current fiscal year.

State Street Corporation declared that its Board of Directors has approved a share repurchase program on Wednesday, June 28th that allows the company to buyback $1.40 billion in shares. This buyback authorization allows the asset manager to repurchase up to 4.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Friday, September 29th. This is a boost from State Street Corporation’s previous quarterly dividend of $0.38. State Street Corporation’s payout ratio is 28.15%.

In other news, Director Amelia C. Fawcett sold 5,000 shares of State Street Corporation stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $93.38, for a total transaction of $466,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew Erickson sold 353 shares of State Street Corporation stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $93.01, for a total value of $32,832.53. Following the sale, the insider now owns 21,170 shares of the company’s stock, valued at $1,969,021.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,814 shares of company stock worth $820,385. Company insiders own 0.71% of the company’s stock.

State Street Corporation Profile

State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.

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Institutional Ownership by Quarter for State Street Corporation (NYSE:STT)

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