Compass Financial Management LLC Takes Position in State Street Corporation $STT

Compass Financial Management LLC acquired 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 SEC. The fund acquired 8,245 shares of the asset manager’s stock, valued at approximately $1,424,000.

Other large investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in State Street during the second quarter worth about $4,139,389,000. Regents of The University of California boosted its position in shares of State Street by 15.6% during the 1st quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager’s stock valued at $1,273,841,000 after purchasing an additional 1,358,923 shares in the last quarter. Morgan Stanley grew its stake in shares of State Street by 9.0% in the 4th quarter. Morgan Stanley now owns 5,222,382 shares of the asset manager’s stock worth $673,740,000 after purchasing an additional 433,201 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of State Street by 30.8% in the 4th quarter. Victory Capital Management Inc. now owns 4,559,546 shares of the asset manager’s stock worth $588,227,000 after purchasing an additional 1,074,174 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of State Street by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 3,926,321 shares of the asset manager’s stock worth $506,534,000 after purchasing an additional 67,309 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on STT shares. Barclays upped their price target on State Street from $165.00 to $200.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Weiss Ratings raised State Street from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, May 28th. UBS Group set a $176.00 target price on State Street in a report on Friday, June 26th. Wells Fargo & Company boosted their target price on State Street from $196.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Finally, Keefe, Bruyette & Woods upped their target price on State Street from $195.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $185.38.

Insider Activity at State Street

In other State Street news, EVP Michael L. Richards sold 1,500 shares of State Street stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $162.14, for a total value of $243,210.00. Following the transaction, the executive vice president directly owned 41,827 shares of the company’s stock, valued at $6,781,829.78. The trade was a 3.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hanley Ronald P. O sold 14,553 shares of the business’s stock in a transaction on 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 $44,377,419.03. This trade represents a 5.70% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 49,576 shares of company stock worth $8,415,875. 0.27% of the stock is owned by insiders.

State Street Stock Up 2.3%

STT stock opened at $187.22 on Friday. State Street Corporation has a 12-month low of $104.64 and a 12-month high of $195.18. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.04. The company has a market cap of $51.43 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 0.77 and a beta of 1.41. The company has a 50 day moving average of $180.11 and a two-hundred day moving average of $153.79.

State Street (NYSE:STT) last announced its quarterly earnings results on Thursday, July 16th. The asset manager reported $3.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.31. The business had revenue of $4.05 billion during 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 firm’s revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.04 EPS. On average, equities analysts anticipate that State Street Corporation will post 13.75 earnings per share for the current fiscal year.

State Street Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Thursday, October 1st will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, October 1st. This is a boost from State Street’s previous quarterly dividend of $0.84. State Street’s dividend payout ratio (DPR) is 29.63%.

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.