OP Asset Management Ltd purchased a new position in shares of State Street Corporation (NYSE:STT – Free Report) in the first quarter, HoldingsChannel.com reports. The firm purchased 28,490 shares of the asset manager’s stock, valued at approximately $3,606,000.
Several other hedge funds have also recently made changes to their positions in STT. Wilkerson Advisory Group LLC bought a new stake in shares of State Street during the 4th quarter valued at about $29,000. JPL Wealth Management LLC acquired a new position in State Street in the third quarter valued at approximately $29,000. Phillip James Consulting Co. acquired a new position in State Street in the fourth quarter valued at approximately $30,000. Reflection Asset Management bought a new position in shares of State Street during the 4th quarter worth approximately $35,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of State Street during the 3rd quarter worth approximately $35,000. 87.44% of the stock is owned by institutional investors.
Insider Buying and Selling at State Street
In other State Street news, EVP Michael L. Richards sold 1,500 shares of the business’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 sale, the executive vice president directly owned 41,827 shares of the company’s stock, valued at approximately $6,781,829.78. The trade was a 3.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hanley Ronald P. O sold 14,553 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total value of $2,260,808.55. Following the completion of the sale, the chief executive officer directly owned 255,512 shares of the company’s stock, valued at approximately $39,693,789.20. This trade represents a 5.39% 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 90 days, insiders have sold 37,876 shares of company stock worth $5,866,583. 0.27% of the stock is currently owned by insiders.
State Street News Summary
- Positive Sentiment: State Street plans to increase its quarterly dividend by 10% after passing the 2026 stress test, reinforcing its capital strength and shareholder-return story. STT Announces Plan for 10% Dividend Hike Post 2026 Stress Test Results
- Positive Sentiment: Truist Financial raised its price target on State Street to $176 from $150, implying continued upside potential even while keeping a hold rating. State Street price target raised by Truist Financial Corporation
- Positive Sentiment: Wall Street expectations for State Street’s upcoming Q2 earnings point to another double-digit EPS increase, which could support sentiment if results confirm the trend. State Street Corporation’s Q2 2026 Earnings: What to Expect
- Neutral Sentiment: Barclays kept a hold rating on State Street, and another analyst update also suggests investors remain constructive but not aggressively bullish at current levels. Barclays Remains a Hold on State Street (STT)
- Neutral Sentiment: Commentary on State Street’s 65% annual stock gain and current valuation suggests investors are debating whether the rally has already priced in a lot of good news. State Street (STT) Stock After 65% Year Gain Are Recent Valuation Signals Justified
State Street Price Performance
Shares of STT opened at $168.44 on Friday. The business’s fifty day moving average is $157.67 and its 200 day moving average is $139.01. State Street Corporation has a 12-month low of $101.98 and a 12-month high of $175.46. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.04. The stock has a market cap of $46.62 billion, a P/E ratio of 17.08, a P/E/G ratio of 0.93 and a beta of 1.43.
State Street (NYSE:STT – Get Free Report) last announced its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $3.59 billion. During the same quarter in the previous year, the business posted $2.04 EPS. State Street’s quarterly revenue was up 15.6% on a year-over-year basis. Sell-side analysts anticipate that State Street Corporation will post 12.35 earnings per share for the current fiscal year.
State Street Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $3.36 annualized dividend and a dividend yield of 2.0%. State Street’s payout ratio is presently 34.08%.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on STT. Wells Fargo & Company boosted their target price on shares of State Street from $171.00 to $196.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group set a $176.00 price target on shares of State Street in a report on Friday. Citigroup lifted their price target on shares of State Street from $172.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America raised shares of State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price objective on the stock in a research report on Monday, April 6th. Finally, Truist Financial raised their target price on State Street from $150.00 to $176.00 and gave the company a “hold” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, State Street currently has an average rating of “Moderate Buy” and an average price target of $164.16.
Check Out Our Latest Analysis on STT
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.
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