3,297 Shares in State Street Corporation $STT Acquired by PEAK6 LLC

PEAK6 LLC purchased a new stake in State Street Corporation (NYSE:STT) during the second quarter, HoldingsChannel reports. The firm purchased 3,297 shares of the asset manager’s stock, valued at approximately $559,000.

Other hedge funds have also added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of State Street during the 2nd quarter worth about $1,094,000. Mission Financial Group LLC bought a new position in State Street in the 2nd quarter valued at about $217,000. LM Advisors LLC bought a new position in State Street in the 2nd quarter valued at about $396,000. Clear Harbor Asset Management LLC acquired a new stake in State Street during the second quarter worth approximately $402,000. Finally, S&G Foundation acquired a new stake in State Street during the second quarter worth approximately $4,371,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling

In related news, CEO Hanley Ronald P. O sold 14,553 shares of the company’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $184.17, for a total transaction of $2,680,226.01. Following the completion of the sale, the chief executive officer owned 240,959 shares of the company’s stock, valued at $44,377,419.03. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Bradford Hu sold 9,758 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $184.52, for a total transaction of $1,800,546.16. Following the sale, the executive vice president owned 49,794 shares in the company, valued at $9,187,988.88. The trade was a 16.39% 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. Over the last quarter, insiders have sold 49,576 shares of company stock worth $8,415,875. Company insiders own 0.27% of the company’s stock.

State Street Trading Up 0.0%

Shares of STT stock opened at $187.22 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. The stock has a market cap of $51.43 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 0.77 and a beta of 1.41. The stock has a 50 day simple moving average of $180.11 and a 200 day simple moving average of $153.94. State Street Corporation has a 1 year low of $104.64 and a 1 year high of $195.18.

State Street (NYSE:STT) last posted its quarterly earnings data 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 return on equity of 15.26% and a net margin of 15.02%.The company’s revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the company earned $2.04 EPS. On average, research analysts predict that State Street Corporation will post 13.75 earnings per share for the current fiscal year.

State Street Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.92 per share. This is an increase from State Street’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $3.68 annualized dividend and a dividend yield of 2.0%. State Street’s payout ratio is currently 29.63%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Bank of America upped their target price on State Street from $160.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. Zacks Research raised State Street from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Royal Bank Of Canada boosted their price target on State Street from $155.00 to $196.00 and gave the company a “sector perform” rating in a research note on Friday, July 17th. Citigroup upped their price objective on State Street from $193.00 to $210.00 and gave the company a “buy” rating in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. increased their price objective on State Street from $176.50 to $187.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.38.

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.