EP Wealth Advisors LLC purchased a new stake in shares of State Street Corporation (NYSE:STT – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,660 shares of the asset manager’s stock, valued at approximately $1,130,000.
Other large investors have also recently modified their holdings of the company. Bell Investment Advisors Inc acquired a new position in State Street during the 2nd quarter worth about $28,000. Elevation Wealth Partners LLC boosted its holdings in State Street by 153.6% in the second quarter. Elevation Wealth Partners LLC now owns 175 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 106 shares during the last quarter. Keating Financial Advisory Services Inc. bought a new stake in State Street in the second quarter valued at approximately $33,000. Kelleher Financial Advisors acquired a new stake in State Street during the 2nd quarter valued at approximately $33,000. Finally, Wilkerson Advisory Group LLC acquired a new stake in State Street during the 4th quarter valued at approximately $29,000. Institutional investors own 87.44% of the company’s stock.
State Street Stock Up 0.0%
STT stock opened at $187.22 on Monday. The stock’s 50 day simple moving average is $180.11 and its 200 day simple moving average is $153.94. State Street Corporation has a fifty-two week low of $104.64 and a fifty-two week 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 cap of $51.43 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 0.77 and a beta of 1.41.
State Street Increases Dividend
The company also recently announced 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. The ex-dividend date is Thursday, October 1st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from State Street’s previous quarterly dividend of $0.84. State Street’s dividend payout ratio (DPR) is 29.63%.
Insider Buying and Selling
In other State Street news, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction on Monday, June 8th. The shares were 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 owned 41,827 shares in the company, 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 can be accessed through the SEC website. Also, CEO Hanley Ronald P. O sold 14,553 shares of the company’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $184.17, for a total transaction of $2,680,226.01. Following the transaction, the chief executive officer owned 240,959 shares in the company, valued at approximately $44,377,419.03. The trade was a 5.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 49,576 shares of company stock worth $8,415,875 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of State Street from $176.50 to $187.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. The Goldman Sachs Group lifted their target price on shares of State Street from $168.00 to $194.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Bank of America boosted their target price on shares of 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 report on Monday, July 20th. Finally, Barclays increased their price target on State Street from $165.00 to $200.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, State Street presently has an average rating of “Moderate Buy” and an average target price of $185.38.
Get Our Latest Stock Report on State Street
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.
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