4,062 Shares in State Street Corporation $STT Purchased by Caxton Associates LLP

Caxton Associates LLP bought a new stake in shares of State Street Corporation (NYSE:STT) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,062 shares of the asset manager’s stock, valued at approximately $514,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Regents of The University of California boosted its position in shares of State Street by 211.2% in the fourth quarter. Regents of The University of California now owns 8,706,195 shares of the asset manager’s stock valued at $1,123,186,000 after acquiring an additional 5,908,370 shares during the period. Morgan Stanley raised its stake in State Street by 9.0% during the 4th quarter. Morgan Stanley now owns 5,222,382 shares of the asset manager’s stock valued at $673,740,000 after purchasing an additional 433,201 shares during the last quarter. Victory Capital Management Inc. raised its stake in State Street by 30.8% during the 4th quarter. Victory Capital Management Inc. now owns 4,559,546 shares of the asset manager’s stock valued at $588,227,000 after purchasing an additional 1,074,174 shares during the last quarter. Franklin Resources Inc. boosted its holdings in State Street by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 3,926,321 shares of the asset manager’s stock valued at $506,534,000 after purchasing an additional 67,309 shares during the period. Finally, First Trust Advisors LP boosted its holdings in State Street by 30.4% in the 4th quarter. First Trust Advisors LP now owns 3,582,977 shares of the asset manager’s stock valued at $462,240,000 after purchasing an additional 835,331 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Truist Financial restated a “hold” rating and set a $191.00 price objective (up from $176.00) on shares of State Street in a report on Friday, July 17th. Bank of America increased their target price on shares of State Street from $160.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Zacks Research raised State Street from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. UBS Group set a $176.00 price target on State Street in a research note on Friday, June 26th. Finally, Morgan Stanley upped their price target on State Street from $183.00 to $195.00 and gave the company an “overweight” rating in a report 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $184.72.

Insider Buying and Selling

In other news, CEO Hanley Ronald P. O sold 14,553 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total value of $2,260,808.55. Following the sale, the chief executive officer owned 255,512 shares in the company, valued at approximately $39,693,789.20. The trade was a 5.39% decrease in their position. 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 9,212 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total transaction of $1,431,084.20. Following the completion of the sale, the executive vice president directly owned 59,552 shares in the company, valued at approximately $9,251,403.20. The trade was a 13.40% decrease in their position. 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 25,265 shares of company stock worth $3,935,103 in the last 90 days. 0.27% of the stock is owned by company insiders.

State Street Price Performance

Shares of State Street stock opened at $184.59 on Tuesday. The firm has a market cap of $51.09 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 0.77 and a beta of 1.42. The firm’s 50-day simple moving average is $169.67 and its 200-day simple moving average is $146.44. State Street Corporation has a twelve month low of $104.64 and a twelve month high of $192.51. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.59.

State Street (NYSE:STT) last posted 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 firm 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 company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.04 earnings per share. As a group, research analysts expect that State Street Corporation will post 13.68 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. Stockholders 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 dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, October 1st. This is a boost from State Street’s previous quarterly dividend of $0.84. State Street’s payout ratio is currently 32.45%.

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.