4,839 Shares in State Street Corporation $STT Acquired by Focused Alpha LLC

Focused Alpha LLC acquired a new position in State Street Corporation (NYSE:STT) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 4,839 shares of the asset manager’s stock, valued at approximately $821,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STT. Bell Investment Advisors Inc purchased a new stake in shares of State Street in the second quarter valued at $28,000. Wilkerson Advisory Group LLC acquired a new stake in shares of State Street in the fourth quarter worth approximately $29,000. JPL Wealth Management LLC acquired a new position in shares of State Street in the 3rd quarter valued at $29,000. Phillip James Consulting Co. purchased a new stake in State Street during the fourth quarter valued at about $30,000. Finally, Elevation Wealth Partners LLC grew its holdings in shares of State Street by 153.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 175 shares of the asset manager’s stock worth $30,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Up 0.9%

STT opened at $193.48 on Tuesday. State Street Corporation has a one year low of $104.64 and a one year high of $195.18. 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 company has a market capitalization of $53.15 billion, a PE ratio of 17.06, a P/E/G ratio of 0.79 and a beta of 1.41. The stock’s fifty day moving average is $178.29 and its 200-day moving average is $152.35.

State Street (NYSE:STT) last posted its quarterly earnings data on Thursday, July 16th. The asset manager reported $3.65 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.31. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates 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 quarter last year, the firm posted $2.04 EPS. On average, equities analysts predict that State Street Corporation will post 13.75 EPS for the current fiscal year.

State Street Increases Dividend

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

Insiders Place Their Bets

In other news, CEO Hanley Ronald P. O sold 14,553 shares of State Street 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 transaction, the chief executive officer directly owned 240,959 shares of the company’s stock, valued at $44,377,419.03. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael L. Richards sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $162.14, for a total transaction of $243,210.00. Following the completion of the transaction, the executive vice president directly owned 41,827 shares of the company’s stock, valued at $6,781,829.78. This represents a 3.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 49,576 shares of company stock worth $8,415,875 over the last ninety days. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on STT shares. Bank of America increased their price target on State Street from $160.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Evercore set a $200.00 price target on shares of State Street in a research note on Monday, July 20th. Royal Bank Of Canada boosted their price objective on State Street from $155.00 to $196.00 and gave the company a “sector perform” rating in a report on Friday, July 17th. UBS Group set a $176.00 target price on shares of State Street in a report on Friday, June 26th. Finally, Argus increased their price target on State Street from $140.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, State Street currently has an average rating of “Moderate Buy” and a consensus price target of $185.38.

About State Street

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.