State Street Corporation $STT Shares Acquired by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC increased its stake in State Street Corporation (NYSE:STT) by 13.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 248,775 shares of the asset manager’s stock after purchasing an additional 29,857 shares during the quarter. O Shaughnessy Asset Management LLC owned 0.09% of State Street worth $32,094,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Regents of The University of California purchased a new position in State Street in the third quarter valued at about $324,576,000. Norges Bank purchased a new stake in shares of State Street during the 4th quarter worth approximately $303,483,000. Pinebridge Investments LLC acquired a new stake in shares of State Street in the 4th quarter worth approximately $178,705,000. Two Sigma Investments LP increased its stake in State Street by 261.0% in the 3rd quarter. Two Sigma Investments LP now owns 1,217,802 shares of the asset manager’s stock valued at $141,277,000 after purchasing an additional 880,507 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in State Street by 36.8% during the third quarter. First Trust Advisors LP now owns 2,747,646 shares of the asset manager’s stock worth $318,754,000 after purchasing an additional 738,456 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

Shares of STT stock opened at $161.91 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market capitalization of $44.81 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 0.88 and a beta of 1.43. State Street Corporation has a one year low of $95.67 and a one year high of $163.95. The company has a 50 day moving average price of $147.70 and a 200 day moving average price of $134.16.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.20. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.59 billion. State Street had a net margin of 13.47% and a return on equity of 14.22%. State Street’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the business earned $2.04 EPS. Sell-side analysts anticipate that State Street Corporation will post 12.35 EPS for the current year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be issued a $0.84 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $3.36 annualized dividend and a yield of 2.1%. State Street’s dividend payout ratio (DPR) is presently 34.08%.

Insider Activity

In related news, CEO Hanley Ronald P. O sold 14,553 shares of State Street stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total transaction of $2,260,808.55. Following the transaction, the chief executive officer owned 255,512 shares in the company, valued at approximately $39,693,789.20. The trade was a 5.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Bradford Hu sold 9,212 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total transaction of $1,431,084.20. Following the sale, the executive vice president directly owned 59,552 shares of the company’s stock, valued at approximately $9,251,403.20. This trade represents a 13.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 52,476 shares of company stock valued at $7,624,925 over the last quarter. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

STT has been the topic of several research reports. Zacks Research raised State Street from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Evercore set a $158.00 price objective on shares of State Street and gave the stock an “outperform” rating in a research report on Monday, April 20th. Truist Financial raised their target price on shares of State Street from $136.00 to $150.00 and gave the company a “hold” rating in a report on Monday, April 20th. Bank of America raised shares of State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price target on the stock in a report on Monday, April 6th. Finally, JPMorgan Chase & Co. raised their price target on State Street from $137.50 to $158.50 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $158.57.

State Street Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.