1,135,946 Shares in State Street Corporation $STT Purchased by Deutsche Bank AG

Deutsche Bank AG bought a new position in State Street Corporation (NYSE:STT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,135,946 shares of the asset manager’s stock, valued at approximately $192,656,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC bought a new stake in shares of State Street in the 4th quarter worth approximately $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in State Street by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock worth $2,885,000 after buying an additional 918 shares during the last quarter. NewEdge Advisors LLC increased its position in State Street by 105.2% in the first quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock worth $913,000 after buying an additional 5,226 shares during the period. Empowered Funds LLC increased its position in State Street by 220.1% in the first quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock worth $2,065,000 after buying an additional 15,996 shares during the period. Finally, Woodline Partners LP lifted its stake in State Street by 38.4% in the first quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock valued at $2,182,000 after buying an additional 6,767 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on STT. Evercore set a $200.00 price target on shares of State Street in a report on Monday, July 20th. Royal Bank Of Canada increased their price objective on shares of State Street from $155.00 to $196.00 and gave the stock a “sector perform” rating in a report on Friday, July 17th. Bank of America lifted their price objective on shares of State Street from $160.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. The Goldman Sachs Group boosted their target price on shares of State Street from $168.00 to $194.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Finally, Truist Financial restated a “hold” rating and issued a $191.00 target price (up from $176.00) on shares of State Street in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $185.38.

State Street Stock Down 0.5%

Shares of State Street stock opened at $192.03 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.59 and a quick ratio of 0.59. State Street Corporation has a 1-year low of $104.64 and a 1-year high of $195.18. The business’s fifty day moving average price is $178.87 and its two-hundred day moving average price is $152.80. The company has a market capitalization of $52.75 billion, a P/E ratio of 16.93, a PEG ratio of 0.79 and a beta of 1.41.

State Street (NYSE:STT) last released its quarterly earnings results on Thursday, July 16th. The asset manager reported $3.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.31. The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.88 billion. State Street had a return on equity of 15.26% and a net margin of 15.02%.The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.04 earnings per share. As a group, research analysts forecast that State Street Corporation will post 13.75 EPS for the current year.

State Street Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Thursday, October 1st will be issued a $0.92 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This is an increase from State Street’s previous quarterly dividend of $0.84. This represents a $3.68 annualized dividend and a yield of 1.9%. State Street’s dividend payout ratio is currently 29.63%.

Insider Activity at State Street

In other news, EVP W. Bradford Hu sold 9,758 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were 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 directly owned 49,794 shares of the company’s stock, valued at approximately $9,187,988.88. This represents a 16.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael L. Richards sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $162.14, for a total transaction of $243,210.00. Following the completion of the sale, the executive vice president directly owned 41,827 shares of the company’s stock, valued at approximately $6,781,829.78. This represents a 3.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 49,576 shares of company stock worth $8,415,875 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

State Street Company 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.