Balyasny Asset Management LLC lifted its stake in shares of State Street Corporation (NYSE:STT) by 59.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 84,517 shares of the asset manager’s stock after purchasing an additional 31,617 shares during the quarter. Balyasny Asset Management LLC’s holdings in State Street Corporation were worth $7,584,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the company. Raymond James Trust N.A. raised its position in shares of State Street Corporation by 0.5% during the 2nd quarter. Raymond James Trust N.A. now owns 3,250 shares of the asset manager’s stock worth $291,000 after purchasing an additional 17 shares during the period. Burns J W & Co. Inc. NY raised its position in shares of State Street Corporation by 0.9% during the 2nd quarter. Burns J W & Co. Inc. NY now owns 2,700 shares of the asset manager’s stock worth $242,000 after purchasing an additional 23 shares during the period. Klingenstein Fields & Co. LLC raised its position in shares of State Street Corporation by 0.9% during the 2nd quarter. Klingenstein Fields & Co. LLC now owns 2,687 shares of the asset manager’s stock worth $241,000 after purchasing an additional 25 shares during the period. Bank of Hawaii raised its position in shares of State Street Corporation by 0.4% during the 1st quarter. Bank of Hawaii now owns 8,415 shares of the asset manager’s stock worth $670,000 after purchasing an additional 30 shares during the period. Finally, Anchor Capital Advisors LLC raised its position in shares of State Street Corporation by 0.3% during the 1st quarter. Anchor Capital Advisors LLC now owns 11,582 shares of the asset manager’s stock worth $922,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 87.42% of the company’s stock.

In related news, Director Amelia C. Fawcett sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $93.38, for a total value of $466,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hannah M. Grove sold 3,200 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $92.55, for a total transaction of $296,160.00. Following the completion of the transaction, the insider now owns 39,896 shares of the company’s stock, valued at approximately $3,692,374.80. The disclosure for this sale can be found here. Insiders sold a total of 8,814 shares of company stock valued at $820,385 in the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

State Street Corporation (NYSE STT) opened at 98.80 on Friday. The firm’s 50-day moving average price is $94.34 and its 200-day moving average price is $87.85. The company has a market capitalization of $36.95 billion, a price-to-earnings ratio of 18.24 and a beta of 1.31. State Street Corporation has a 52 week low of $68.16 and a 52 week high of $99.99.

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

State Street Corporation declared that its board has authorized a stock repurchase program on Wednesday, June 28th that authorizes the company to repurchase $1.40 billion in shares. This repurchase authorization authorizes the asset manager to buy up to 4.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.70%. 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 31.11%.

STT has been the topic of a number of research reports. BidaskClub upgraded State Street Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Jefferies Group LLC restated a “hold” rating and issued a $87.00 target price on shares of State Street Corporation in a research report on Monday, June 19th. Royal Bank Of Canada restated a “hold” rating and issued a $86.00 target price on shares of State Street Corporation in a research report on Friday, June 23rd. Goldman Sachs Group, Inc. (The) upgraded State Street Corporation from a “buy” rating to a “conviction-buy” rating and raised their target price for the company from $92.00 to $100.00 in a research report on Wednesday, June 28th. Finally, Keefe, Bruyette & Woods set a $88.00 target price on State Street Corporation and gave the company a “hold” rating in a research report on Saturday, July 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $93.80.

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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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