2,855 Shares in State Street Corporation $STT Acquired by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC acquired a new position in shares of State Street Corporation (NYSE:STT) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 2,855 shares of the asset manager’s stock, valued at approximately $484,000.

Several other large investors also recently added to or reduced their stakes in the stock. Wilkerson Advisory Group LLC purchased a new position in shares of State Street during the 4th quarter worth $29,000. JPL Wealth Management LLC acquired a new position in shares of State Street during the 3rd quarter valued at about $29,000. Phillip James Consulting Co. purchased a new stake in shares of State Street in the fourth quarter valued at about $30,000. Elevation Wealth Partners LLC grew its holdings in shares of State Street by 153.6% in the second quarter. Elevation Wealth Partners LLC now owns 175 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 106 shares during the period. Finally, Kelleher Financial Advisors acquired a new stake in State Street during the second quarter worth about $33,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at State Street

In other State Street news, EVP W. Bradford 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hanley Ronald P. O sold 14,553 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $184.17, for a total value of $2,680,226.01. Following the completion of the sale, the chief executive officer directly owned 240,959 shares in the company, valued at approximately $44,377,419.03. The trade was a 5.70% 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. In the last quarter, insiders sold 49,576 shares of company stock worth $8,415,875. Insiders own 0.27% of the company’s stock.

State Street Trading Down 0.5%

Shares of STT 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. The firm has a market cap of $52.75 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 0.79 and a beta of 1.41. The company has a 50-day moving average of $178.87 and a two-hundred day moving average of $152.80. State Street Corporation has a 1-year low of $104.64 and a 1-year high of $195.18.

State Street (NYSE:STT) last announced its quarterly earnings results on Thursday, July 16th. The asset manager reported $3.65 earnings per share for the quarter, beating analysts’ consensus estimates of $3.34 by $0.31. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.88 billion. State Street had a net margin of 15.02% and a return on equity of 15.26%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the business earned $2.04 earnings per share. On average, analysts predict that State Street Corporation will post 13.75 EPS for the current year.

State Street Increases Dividend

The business also recently announced 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. This is a boost from State Street’s previous quarterly dividend of $0.84. The ex-dividend date is Thursday, October 1st. This represents a $3.68 annualized dividend and a yield of 1.9%. State Street’s payout ratio is 29.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on STT. Zacks Research raised shares of State Street from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. increased their price target on shares of State Street from $176.50 to $187.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Royal Bank Of Canada raised their price target 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. Evercore set a $200.00 price target on shares of State Street in a research report on Monday, July 20th. Finally, Argus upped their price objective on State Street from $140.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Two 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 stock. Based on data from MarketBeat, State Street has an average rating of “Moderate Buy” and a consensus target price of $185.38.

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.