Osmosis Investment Management UK Ltd Buys New Holdings in State Street Corporation $STT

Osmosis Investment Management UK Ltd purchased a new position in shares of State Street Corporation (NYSE:STT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,682 shares of the asset manager’s stock, valued at approximately $1,812,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of STT. Bell Investment Advisors Inc acquired a new position in shares of State Street in the 2nd quarter valued at $28,000. Wilkerson Advisory Group LLC acquired a new stake in shares of State Street during the 4th quarter valued at about $29,000. JPL Wealth Management LLC bought a new stake in State Street in the third quarter valued at about $29,000. Phillip James Consulting Co. bought a new stake in State Street in the fourth quarter valued at about $30,000. Finally, Elevation Wealth Partners LLC raised its position in State Street by 153.6% in the second quarter. Elevation Wealth Partners LLC now owns 175 shares of the asset manager’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on STT shares. Morgan Stanley raised their price target on shares of State Street from $183.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Royal Bank Of Canada increased their target price on State Street from $155.00 to $196.00 and gave the stock a “sector perform” rating in a report on Friday, July 17th. Truist Financial restated a “hold” rating and set a $191.00 target price (up from $176.00) on shares of State Street in a research report on Friday, July 17th. Bank of America boosted their price target on State Street from $160.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Finally, Barclays increased their price objective on State Street from $165.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Two investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $185.38.

Insiders Place Their Bets

In other news, CEO Hanley Ronald P. O sold 14,553 shares of the company’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 transaction of $2,680,226.01. Following the transaction, the chief executive officer directly owned 240,959 shares in the company, valued at approximately $44,377,419.03. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 that occurred on Friday, July 24th. The shares were sold at an average price of $184.52, for a total transaction 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 trade represents a 16.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 25,811 shares of company stock valued at $4,723,982. Insiders own 0.27% of the company’s stock.

State Street Stock Performance

Shares of NYSE:STT opened at $191.00 on Tuesday. State Street Corporation has a twelve month low of $104.64 and a twelve month high of $195.18. The firm has a market cap of $52.47 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 0.77 and a beta of 1.41. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.59. The business has a fifty day moving average of $180.59 and a 200-day moving average of $154.37.

State Street (NYSE:STT) last issued its quarterly earnings results on Thursday, July 16th. The asset manager reported $3.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.31. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.88 billion. State Street had a net margin of 15.02% and a return on equity of 15.26%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.04 EPS. On average, equities research analysts predict that State Street Corporation will post 13.75 EPS 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. Shareholders of record on Thursday, October 1st will be paid a $0.92 dividend. This is a boost from State Street’s previous quarterly dividend of $0.84. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, October 1st. State Street’s payout ratio is presently 29.63%.

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.