MQS Management LLC Has $481,000 Stock Position in State Street Corporation $STT

MQS Management LLC reduced its stake in shares of State Street Corporation (NYSE:STT) by 47.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,725 shares of the asset manager’s stock after selling 3,331 shares during the period. MQS Management LLC’s holdings in State Street were worth $481,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. JPL Wealth Management LLC acquired a new stake in State Street during the 3rd quarter worth approximately $29,000. Measured Wealth Private Client Group LLC acquired a new stake in State Street during the 3rd quarter worth approximately $35,000. Ameriflex Group Inc. raised its holdings in State Street by 102.5% during the 3rd quarter. Ameriflex Group Inc. now owns 318 shares of the asset manager’s stock worth $37,000 after buying an additional 161 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its holdings in State Street by 38.2% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after buying an additional 94 shares during the period. Finally, Board of the Pension Protection Fund acquired a new stake in State Street during the 4th quarter worth approximately $39,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Price Performance

NYSE:STT opened at $153.96 on Friday. State Street Corporation has a 1-year low of $94.19 and a 1-year high of $156.18. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.04. The firm has a fifty day simple moving average of $139.76 and a 200 day simple moving average of $130.83. The stock has a market capitalization of $42.61 billion, a PE ratio of 15.61, a P/E/G ratio of 0.84 and a beta of 1.45.

State Street (NYSE:STT) last released its earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.20. State Street had a net margin of 13.47% and a return on equity of 14.22%. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the business earned $2.04 earnings per share. The firm’s revenue was up 15.6% on a year-over-year basis. On average, research analysts expect that State Street Corporation will post 12.35 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $3.36 annualized dividend and a dividend yield of 2.2%. State Street’s dividend payout ratio (DPR) is currently 34.08%.

Key Stories Impacting State Street

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

• Positive Sentiment: State Street announced a quarterly dividend of $0.84 per share, reinforcing its income profile and signaling management confidence in cash generation. The payout supports investor demand for the stock. Article: State Street Corporation Declares Dividends on its Common Stock and Non-Cumulative Perpetual Preferred Stock Series “G,” “I,” “J,” and “K”
• Positive Sentiment: The company opened a new Manila office to expand global operations, which suggests continued investment in growth, efficiency, and client servicing across international markets. Article: State Street opens new Manila office to expand global operations
• Positive Sentiment: State Street also expanded its stake in Strive Asset Management, a move that may be viewed as a constructive investment decision and a sign of active portfolio positioning. Article: State Street Expands Strive Asset Management (ASST) Holdings by 770% in $17.7M Investment
• Neutral Sentiment: Several disclosures showed State Street entities reducing or ceasing substantial holdings in Australian companies such as Service Stream, Viva Energy, Collins Foods, Elsight, Fortescue, HMC Capital, and PWR Holdings. These are routine portfolio updates and are unlikely to materially affect State Street’s overall outlook. Article: State Street Entities Cease to Be Substantial Holders in Service Stream

Insider Activity at State Street

In other State Street news, COO Mostapha Tahiri sold 9,611 shares of State Street stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $152.93, for a total transaction of $1,469,810.23. Following the completion of the transaction, the chief operating officer directly owned 64,642 shares of the company’s stock, valued at $9,885,701.06. The trade was a 12.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Plansky sold 16,100 shares of State Street stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the transaction, the executive vice president directly owned 56,162 shares of the company’s stock, valued at approximately $6,982,059.84. This trade represents a 22.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 28,711 shares of company stock valued at $3,933,032. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

STT has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of State Street in a report on Monday, April 20th. Bank of America upgraded shares of State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price objective on the stock in a report on Monday, April 6th. JPMorgan Chase & Co. lifted their price objective on shares of State Street from $137.50 to $158.50 and gave the company a “neutral” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods lifted their price objective on shares of State Street from $157.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Finally, Morgan Stanley lifted their price objective on shares of State Street from $155.00 to $166.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $155.77.

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.