TD Waterhouse Canada Inc. raised its holdings in shares of State Street Corporation (NYSE:STT - Free Report) by 1,169.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,394 shares of the asset manager's stock after acquiring an additional 12,339 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in State Street were worth $2,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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Other institutional investors have also recently made changes to their positions in the company. Philadelphia Investment Partners LLC purchased a new position in shares of State Street in the second quarter valued at $26,000. Bell Investment Advisors Inc purchased a new stake in State Street during the 2nd quarter worth about $28,000. Wilkerson Advisory Group LLC bought a new position in State Street in the 4th quarter worth about $29,000. JPL Wealth Management LLC purchased a new position in State Street during the 3rd quarter valued at about $29,000. Finally, Phillip James Consulting Co. purchased a new position in State Street during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 87.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays increased their price target on shares of State Street from $165.00 to $200.00 and gave the stock an "equal weight" rating in a report on Friday, July 17th. The Goldman Sachs Group upped their target price on shares of State Street from $168.00 to $194.00 and gave the stock a "buy" rating in a report on Tuesday, June 30th. UBS Group set a $176.00 target price on shares of State Street in a research note on Friday, June 26th. Citigroup boosted their price target on shares of State Street from $193.00 to $210.00 and gave the company a "buy" rating in a research report on Friday, July 17th. Finally, Evercore set a $200.00 price target on shares of State Street in a report on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $185.38.

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View Our Latest Stock Analysis on State Street

Insider Transactions at State Street

In other news, CEO Hanley Ronald P. O sold 14,553 shares of the stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $184.17, for a total transaction of $2,680,226.01. Following the transaction, the chief executive officer directly owned 240,959 shares in the company, valued at approximately $44,377,419.03. This represents a 5.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Hu sold 9,758 shares of the business's stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $184.52, for a total value of $1,800,546.16. Following the completion of the sale, the executive vice president owned 49,794 shares of the company's stock, valued at $9,187,988.88. The trade was a 16.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.27% of the company's stock.

State Street Trading Down 1.2%

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Shares of State Street stock opened at $191.97 on Wednesday. State Street Corporation has a 1 year low of $104.64 and a 1 year high of $195.93. The firm has a market cap of $52.73 billion, a PE ratio of 16.93, a PEG ratio of 0.92 and a beta of 1.41. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.59 and a quick ratio of 0.59. The company has a 50 day simple moving average of $185.45 and a two-hundred day simple moving average of $159.20.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The asset manager reported $3.65 EPS for the quarter, topping analysts' consensus estimates of $3.34 by $0.31. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.88 billion. State Street had a net margin of 15.02% and a return on equity of 15.26%. During the same quarter in the prior year, the firm earned $2.04 EPS. The business's revenue for the quarter was up 23.3% compared to the same quarter last year. Analysts expect that State Street Corporation will post 13.75 earnings per share for the current fiscal year.

State Street Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.92 per share. The ex-dividend date is Thursday, October 1st. This is a positive change from State Street's previous quarterly dividend of $0.84. This represents a $3.68 dividend on an annualized basis and a yield of 1.9%. State Street's dividend payout ratio (DPR) is 32.45%.

State Street Profile

(Free Report)

State Street Corporation is a financial services company headquartered in Boston, Massachusetts. Founded in 1792, it serves institutional investors, asset managers, asset owners, insurance companies, official institutions and other financial organizations worldwide.

Through its investment servicing business, State Street provides custody and fund administration, accounting, transfer agency, middle-office outsourcing, collateral management, performance measurement and regulatory reporting services.

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