Edmond DE Rothschild Holding S.A. purchased a new position in shares of State Street Corporation (NYSE:STT – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,000 shares of the asset manager’s stock, valued at approximately $678,000.
Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in State Street during the 4th quarter worth about $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in State Street by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock valued at $2,885,000 after acquiring an additional 918 shares in the last quarter. NewEdge Advisors LLC grew its position in State Street by 105.2% in the 1st quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock valued at $913,000 after acquiring an additional 5,226 shares in the last quarter. Empowered Funds LLC increased its stake in State Street by 220.1% during the first quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock worth $2,065,000 after purchasing an additional 15,996 shares during the period. Finally, Woodline Partners LP increased its stake in State Street by 38.4% during the first quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock worth $2,182,000 after purchasing an additional 6,767 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at State Street
In other State Street news, EVP Michael L. Richards sold 1,500 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $162.14, for a total value of $243,210.00. Following the transaction, the executive vice president directly owned 41,827 shares in the company, valued at $6,781,829.78. This represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 completion of the transaction, the executive vice president 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 49,576 shares of company stock valued at $8,415,875 over the last three months. 0.27% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Read Our Latest Research Report on State Street
State Street Stock Down 1.3%
State Street stock opened at $183.36 on Friday. The stock has a market cap of $50.37 billion, a PE ratio of 16.17, a P/E/G ratio of 0.76 and a beta of 1.41. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.59 and a quick ratio of 0.59. The stock’s fifty day moving average is $179.71 and its two-hundred day moving average is $153.55. State Street Corporation has a 1-year low of $104.64 and a 1-year high of $195.18.
State Street (NYSE:STT – Get Free Report) last released its quarterly earnings data 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. State Street had a return on equity of 15.26% and a net margin of 15.02%.The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same period in the prior year, the firm posted $2.04 EPS. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, sell-side analysts expect that State Street Corporation will post 13.75 EPS for the current fiscal year.
State Street Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Thursday, October 1st will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.0%. This is a positive change from State Street’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Thursday, October 1st. State Street’s dividend payout ratio is currently 29.63%.
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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