D.A. Davidson & CO. reduced its position in State Street Corporation (NYSE:STT) by 12.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,318 shares of the asset manager’s stock after selling 320 shares during the quarter. D.A. Davidson & CO.’s holdings in State Street Corporation were worth $207,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STT. BlackRock Inc. grew its holdings in State Street Corporation by 2,256.7% in the first quarter. BlackRock Inc. now owns 20,603,959 shares of the asset manager’s stock worth $1,640,284,000 after purchasing an additional 19,729,678 shares during the last quarter. Longview Partners Guernsey LTD grew its holdings in State Street Corporation by 76.9% in the second quarter. Longview Partners Guernsey LTD now owns 7,569,482 shares of the asset manager’s stock worth $679,210,000 after purchasing an additional 3,290,082 shares during the last quarter. Vanguard Group Inc. grew its holdings in State Street Corporation by 5.3% in the first quarter. Vanguard Group Inc. now owns 23,574,037 shares of the asset manager’s stock worth $1,876,730,000 after purchasing an additional 1,180,527 shares during the last quarter. Thrivent Financial For Lutherans grew its holdings in State Street Corporation by 6,361.2% in the first quarter. Thrivent Financial For Lutherans now owns 819,920 shares of the asset manager’s stock worth $65,274,000 after purchasing an additional 807,230 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in State Street Corporation by 31.8% in the second quarter. Artisan Partners Limited Partnership now owns 3,087,474 shares of the asset manager’s stock worth $277,039,000 after purchasing an additional 745,451 shares during the last quarter. 87.42% of the stock is currently owned by institutional investors and hedge funds.

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State Street Corporation (NYSE:STT) opened at 98.95 on Friday. State Street Corporation has a 52-week low of $68.16 and a 52-week high of $99.13. The company’s 50-day moving average is $94.14 and its 200-day moving average is $87.70. The firm has a market capitalization of $37.00 billion, a P/E ratio of 18.27 and a beta of 1.31.

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

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be issued a $0.42 dividend. This is an increase from State Street Corporation’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, September 29th. This represents a $1.68 annualized dividend and a dividend yield of 1.70%. State Street Corporation’s payout ratio is presently 31.11%.

State Street Corporation announced that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $1.40 billion in outstanding shares. This repurchase authorization permits the asset manager to buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

In other news, Director Amelia C. Fawcett sold 5,000 shares of State Street Corporation stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $93.38, for a total value of $466,900.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction of $32,832.53. Following the completion of the sale, the insider now directly owns 21,170 shares in the company, valued at approximately $1,969,021.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,814 shares of company stock worth $820,385. Insiders own 0.71% of the company’s stock.

Several equities analysts have issued reports on the stock. Buckingham Research reaffirmed a “buy” rating and issued a $107.00 price target (up from $94.00) on shares of State Street Corporation in a report on Monday, July 10th. Keefe, Bruyette & Woods set a $88.00 price target on shares of State Street Corporation and gave the stock a “hold” rating in a report on Saturday, July 1st. BidaskClub raised shares of State Street Corporation from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd. Zacks Investment Research raised shares of State Street Corporation from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) raised shares of State Street Corporation from a “buy” rating to a “conviction-buy” rating and lifted their price target for the stock from $92.00 to $100.00 in a report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $93.80.

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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