Trade Report: The State Street Corp. (STT) Stake Boosted by Tealwood Asset Management Inc.

The State Street Corp. (STT) Stake Boosted by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. increased its position in State Street Corp. (NYSE:STT) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,263 shares of the company’s stock after buying an additional 751 shares during the period. Tealwood Asset Management Inc.’s holdings in State Street Corp. were worth $1,254,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of STT. Advisory Services Network LLC raised its position 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 in the last quarter. Ariel Capital Advisors LLC raised its position in shares of State Street Corp. by 94.3% in the second quarter. Ariel Capital Advisors LLC now owns 23,392 shares of the company’s stock worth $1,261,000 after buying an additional 11,352 shares in the last quarter. First National Trust Co. raised its position in shares of State Street Corp. by 26.4% in the second quarter. First National Trust Co. now owns 40,787 shares of the company’s stock worth $2,199,000 after buying an additional 8,515 shares in the last quarter. ING Groep NV bought a new position in shares of State Street Corp. during the second quarter worth $230,000. Finally, Stonebridge Capital Management Inc. raised its position in shares of State Street Corp. by 7.8% in the second quarter. Stonebridge Capital Management Inc. now owns 46,630 shares of the company’s stock worth $2,514,000 after buying an additional 3,370 shares in the last quarter. Hedge funds and other institutional investors own 85.98% of the company’s stock.

State Street Corp. (NYSE:STT) traded down 0.55% on Monday, reaching $68.63. 1,442,712 shares of the company traded hands. The stock has a 50 day moving average of $70.25 and a 200-day moving average of $63.19. The stock 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 earnings results on Wednesday, July 27th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 business earned $2.57 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the prior year, the firm earned $1.36 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities analysts anticipate that State Street Corp. will post $0.02 EPS for the current year.

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

A number of brokerages recently weighed in on STT. Barclays PLC restated a “buy” rating and set a $71.00 target price on shares of State Street Corp. in a research report on Tuesday, October 11th. 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 research report on Monday, October 10th. Keefe, Bruyette & Woods upgraded shares of State Street Corp. from an “underperform” rating to a “market perform” rating in a research report on Wednesday, October 5th. 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 research report on Friday, September 23rd. Finally, Deutsche Bank AG increased their price objective on shares of State Street Corp. from $70.00 to $73.00 and gave the company a “hold” rating in a research report on Friday, September 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $70.42.

In other news, EVP Jeffrey N. Carp sold 15,000 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $69.26, for a total transaction of $1,038,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Karen C. Keenan sold 7,500 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $65.00, for a total transaction of $487,500.00. Following the sale, the executive vice president now directly owns 58,383 shares of the company’s stock, valued at approximately $3,794,895. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.

About State Street Corp.

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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