Assenagon Asset Management S.A. Has $1.02 Million Holdings in State Street Corporation (NYSE:STT)

Assenagon Asset Management S.A. boosted its holdings in shares of State Street Corporation (NYSE:STT) by 10.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,400 shares of the asset manager’s stock after acquiring an additional 1,125 shares during the quarter. Assenagon Asset Management S.A.’s holdings in State Street were worth $1,021,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Invesco Ltd. boosted its position in State Street by 5.7% during the 4th quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager’s stock worth $737,162,000 after acquiring an additional 406,396 shares during the period. Geode Capital Management LLC raised its stake in shares of State Street by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager’s stock worth $704,238,000 after purchasing an additional 24,617 shares in the last quarter. FMR LLC raised its stake in shares of State Street by 14.2% during the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager’s stock worth $685,441,000 after purchasing an additional 870,849 shares in the last quarter. Amundi raised its stake in shares of State Street by 11.1% during the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock worth $547,636,000 after purchasing an additional 561,773 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of State Street by 15.7% during the 4th quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager’s stock worth $407,166,000 after purchasing an additional 563,790 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Stock Performance

STT opened at $99.21 on Thursday. The stock’s 50 day simple moving average is $92.28 and its 200-day simple moving average is $94.04. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.07. The stock has a market cap of $28.29 billion, a PE ratio of 11.13, a P/E/G ratio of 1.13 and a beta of 1.44. State Street Corporation has a 1 year low of $71.80 and a 1 year high of $103.00.

State Street (NYSE:STT) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating the consensus estimate of $1.98 by $0.06. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. State Street had a return on equity of 12.79% and a net margin of 12.85%. During the same quarter in the previous year, the firm earned $1.69 EPS. Sell-side analysts forecast that State Street Corporation will post 9.68 EPS for the current year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Tuesday, July 1st. State Street’s dividend payout ratio is 34.12%.

Insider Activity at State Street

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the transaction, the chief accounting officer now owns 7,354 shares of the company’s stock, valued at approximately $667,154.88. The trade was a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of recent research reports. Cfra Research downgraded State Street from a “moderate buy” rating to a “hold” rating in a research note on Thursday, May 29th. Citigroup cut their price target on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Keefe, Bruyette & Woods cut their price target on State Street from $118.00 to $113.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. Wall Street Zen downgraded State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Barclays cut their price objective on State Street from $127.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $102.54.

About State Street

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.