The State Street Corp. (STT) is Cooke & Bieler LP’s 4th Largest Position

The State Street Corp. (STT) is Cooke & Bieler LP’s 4th Largest Position

Cooke & Bieler LP raised its position in shares of State Street Corp. (NYSE:STT) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,138,441 shares of the company’s stock after buying an additional 3,552 shares during the period. State Street Corp. comprises about 2.6% of Cooke & Bieler LP’s portfolio, making the stock its 4th largest position. Cooke & Bieler LP’s holdings in State Street Corp. were worth $115,305,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of STT. Advisory Services Network LLC increased its stake in shares of State Street Corp. by 4.4% in the second quarter. Advisory Services Network LLC now owns 2,154 shares of the company’s stock worth $116,000 after buying an additional 90 shares during the last quarter. Rockefeller Financial Services Inc. increased its position in shares of State Street Corp. by 86.3% in the second quarter. Rockefeller Financial Services Inc. now owns 2,235 shares of the company’s stock valued at $121,000 after buying an additional 1,035 shares in the last quarter. Peoples Financial Services CORP. increased its position in shares of State Street Corp. by 7.2% in the second quarter. Peoples Financial Services CORP. now owns 2,968 shares of the company’s stock valued at $160,000 after buying an additional 200 shares in the last quarter. Trust Co. of Vermont increased its position in shares of State Street Corp. by 23.8% in the second quarter. Trust Co. of Vermont now owns 3,376 shares of the company’s stock valued at $182,000 after buying an additional 648 shares in the last quarter. Finally, CenturyLink Investment Management Co purchased a new position in shares of State Street Corp. during the second quarter valued at $183,000. 85.98% of the stock is owned by hedge funds and other institutional investors.

State Street Corp. (NYSE:STT) traded down 0.55% during mid-day trading on Monday, reaching $68.63. 1,442,098 shares of the company were exchanged. The company has a 50 day moving average of $70.26 and a 200-day moving average of $63.06. The company has a market capitalization of $26.77 billion, a price-to-earnings ratio of 14.00 and a beta of 1.52. State Street Corp. has a 1-year low of $50.60 and a 1-year high of $75.40.

State Street Corp. (NYSE:STT) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.20. State Street Corp. had a net margin of 20.19% and a return on equity of 11.22%. The company earned $2.57 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the company earned $1.36 earnings per share. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities research analysts forecast that State Street Corp. will post $0.02 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be given a $0.38 dividend. This is a positive change from State Street Corp.’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.21%. State Street Corp.’s dividend payout ratio (DPR) is 30.89%.

Several research analysts recently weighed in on STT shares. Barclays PLC reaffirmed a “buy” rating and issued a $71.00 target price on shares of State Street Corp. in a report on Tuesday, October 11th. Deutsche Bank AG upped their target price on shares of State Street Corp. from $70.00 to $73.00 and gave the stock a “hold” rating in a report on Friday, September 9th. Credit Agricole SA upped their target price on shares of State Street Corp. from $60.00 to $73.00 and gave the stock an “underperform” rating in a report on Friday, September 23rd. Jefferies Group upped their target price on shares of State Street Corp. from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, October 10th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating on shares of State Street Corp. in a report on Tuesday, June 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $70.42.

In other news, EVP Jeffrey N. Carp sold 40,196 shares of State Street Corp. stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $61.76, for a total value of $2,482,504.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Karen C. Keenan sold 1,000 shares of State Street Corp. stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $57.51, for a total transaction of $57,510.00. Following the completion of the sale, the executive vice president now owns 65,883 shares in the company, valued at approximately $3,788,931.33. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

State Street Corp. Company Profile

State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world.

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