Roberts Glore & Co. Inc. IL reduced its holdings in State Street Corporation (NYSE:STT) by 4.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,541 shares of the asset manager’s stock after selling 735 shares during the quarter. State Street Corporation accounts for about 1.0% of Roberts Glore & Co. Inc. IL’s investment portfolio, making the stock its 29th largest holding. Roberts Glore & Co. Inc. IL’s holdings in State Street Corporation were worth $1,484,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. BlackRock Inc. boosted its position in shares of State Street Corporation by 2,256.7% during the first quarter. BlackRock Inc. now owns 20,603,959 shares of the asset manager’s stock worth $1,640,284,000 after buying an additional 19,729,678 shares during the period. Longview Partners Guernsey LTD boosted its position in shares of State Street Corporation by 76.9% during the second quarter. Longview Partners Guernsey LTD now owns 7,569,482 shares of the asset manager’s stock worth $679,210,000 after buying an additional 3,290,082 shares during the period. FMR LLC boosted its position in shares of State Street Corporation by 10.8% during the second quarter. FMR LLC now owns 19,988,755 shares of the asset manager’s stock worth $1,793,591,000 after buying an additional 1,940,536 shares during the period. Vanguard Group Inc. boosted its position in shares of State Street Corporation by 5.3% during the first quarter. Vanguard Group Inc. now owns 23,574,037 shares of the asset manager’s stock worth $1,876,730,000 after buying an additional 1,180,527 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in shares of State Street Corporation by 103.0% during the second 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 period. Institutional investors own 87.42% of the company’s stock.

Several research analysts have recently weighed in on STT shares. Zacks Investment Research cut State Street Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. Goldman Sachs Group, Inc. (The) raised State Street Corporation from a “buy” rating to a “conviction-buy” rating and upped their price objective for the stock from $92.00 to $100.00 in a research report on Wednesday, June 28th. Keefe, Bruyette & Woods set a $93.00 price objective on State Street Corporation and gave the stock a “hold” rating in a research report on Monday, August 28th. BidaskClub raised State Street Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $86.00 price target on shares of State Street Corporation in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $94.73.

In related news, insider Hannah M. Grove sold 3,200 shares of State Street Corporation stock in a transaction dated Thursday, August 10th. The shares were 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 directly owns 39,896 shares of the company’s stock, valued at approximately $3,692,374.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Andrew Erickson sold 353 shares of State Street Corporation stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $93.01, for a total transaction of $32,832.53. Following the transaction, the insider now directly owns 21,170 shares of the company’s stock, valued at $1,969,021.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,814 shares of company stock valued at $820,385. 0.71% of the stock is owned by corporate insiders.

Shares of State Street Corporation (NYSE:STT) traded down 0.71% during trading on Monday, hitting $98.10. The stock had a trading volume of 326,357 shares. The company has a market capitalization of $36.68 billion, a price-to-earnings ratio of 18.11 and a beta of 1.31. The company’s 50 day moving average price is $94.34 and its 200 day moving average price is $87.85. 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 earnings results on Wednesday, July 26th. The asset manager reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the previous year, the firm posted $1.46 EPS. The business’s quarterly revenue was up 9.2% on a year-over-year basis. Analysts predict that State Street Corporation will post $6.16 earnings per share for the current year.

State Street Corporation declared that its board has approved a share repurchase program on Wednesday, June 28th that permits the company to buyback $1.40 billion in shares. This buyback authorization permits the asset manager to purchase up to 4.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be paid a dividend of $0.42 per share. 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. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.70%. State Street Corporation’s payout ratio is currently 31.11%.

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State Street Corporation Company 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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