WINTON GROUP Ltd Sells 20,757 Shares of State Street Corporation $STT

WINTON GROUP Ltd decreased its holdings in shares of State Street Corporation (NYSE:STT) by 78.2% in the 2nd quarter, Holdings Channel reports. The fund owned 5,800 shares of the asset manager’s stock after selling 20,757 shares during the period. WINTON GROUP Ltd’s holdings in State Street were worth $984,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in STT. Philadelphia Investment Partners LLC bought a new stake in shares of State Street during the 2nd quarter valued at approximately $26,000. Bell Investment Advisors Inc acquired a new position in State Street during the 2nd quarter worth approximately $28,000. Wilkerson Advisory Group LLC bought a new position in State Street in the 4th quarter valued at approximately $29,000. JPL Wealth Management LLC bought a new position in State Street in the 3rd quarter valued at approximately $29,000. Finally, Phillip James Consulting Co. bought a new position in State Street in the 4th quarter valued at approximately $30,000. Institutional investors own 87.44% of the company’s stock.

Insider Activity

In related news, EVP W. Hu sold 9,758 shares of the company’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 directly owned 49,794 shares in the company, valued at $9,187,988.88. This represents a 16.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 240,959 shares of the company’s stock, valued at $44,377,419.03. This represents 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. Corporate insiders own 0.27% of the company’s stock.

Key Stories Impacting State Street

Here are the key news stories impacting State Street this week:

• Positive Sentiment: An analysis argues that State Street’s preferred shares offer an approximately 6.8% dividend yield, which could appeal to income-focused investors and highlight the company’s ability to support attractive capital returns. The article primarily concerns preferred securities, so the direct effect on STT common shares may be limited. State Street: 6.8% Preferred Dividend Yield Is Too Good To Ignore
• Positive Sentiment: State Street appointed Tim Helyar to lead its Asia-Pacific business effective September 10. The leadership change may support the company’s regional growth strategy in asset servicing and investment management, though no immediate financial impact was disclosed. State Street Corporation Announces Appointment of Tim Helyar to Head of Asia Pacific
• Neutral Sentiment: State Street and affiliated asset-management entities reported that their holdings fell below substantial-holder thresholds in IDP Education, Inghams Group, Sims, Breville Group, Greatland Resources, Amotiv, Austal, Elsight, Service Stream, and Smartgroup. These notices may reflect routine portfolio rebalancing, index changes, or client-driven trading; they do not necessarily represent a negative view of State Street or materially affect its earnings. State Street Ownership Disclosures
• Negative Sentiment: Harbor Mid Cap Value Fund trimmed its State Street position following the stock’s appreciation. The sale could create modest near-term supply and signals that at least one investor is taking profits, although it does not indicate a change in State Street’s fundamentals. Harbor Mid Cap Value Fund Trimmed State Street Following Appreciation

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Bank of America boosted their target price on shares of State Street from $160.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Citigroup increased their price target on State Street from $193.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Zacks Research raised State Street from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. UBS Group set a $176.00 price objective on State Street in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. upped their target price on State Street from $176.50 to $187.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.38.

State Street Price Performance

Shares of NYSE:STT opened at $193.37 on Monday. The firm has a market cap of $53.12 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 0.92 and a beta of 1.41. The firm’s fifty day moving average is $186.78 and its 200-day moving average is $160.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.59. State Street Corporation has a 52 week low of $104.64 and a 52 week high of $195.93.

State Street (NYSE:STT) last issued its quarterly earnings data on Thursday, July 16th. The asset manager reported $3.65 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.31. The company had revenue of $4.05 billion for 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%. State Street’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.04 earnings per share. Sell-side analysts predict that State Street Corporation will post 13.76 earnings per share for the current year.

State Street Increases Dividend

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

State Street Profile

State Street Corporation is a financial services company headquartered in Boston, Massachusetts. Founded in 1792, it serves institutional investors, asset managers, asset owners, insurance companies, official institutions and other financial organizations worldwide.

Through its investment servicing business, State Street provides custody and fund administration, accounting, transfer agency, middle-office outsourcing, collateral management, performance measurement and regulatory reporting services.