MV Capital Management Inc. Buys 251 Shares of State Street Co. (NYSE:STT)

MV Capital Management Inc. lifted its stake in State Street Co. (NYSE:STT) by 98.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 506 shares of the asset manager’s stock after buying an additional 251 shares during the quarter. MV Capital Management Inc.’s holdings in State Street were worth $45,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in STT. Kohmann Bosshard Financial Services LLC bought a new stake in State Street during the 4th quarter worth approximately $42,000. Coppell Advisory Solutions LLC increased its stake in shares of State Street by 2,942.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock worth $42,000 after purchasing an additional 412 shares in the last quarter. Loomis Sayles & Co. L P raised its position in shares of State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 311 shares during the period. Minot DeBlois Advisors LLC purchased a new position in shares of State Street during the 4th quarter valued at $49,000. Finally, Whipplewood Advisors LLC bought a new position in State Street in the 4th quarter worth $61,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Price Performance

State Street stock opened at $97.33 on Thursday. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm’s fifty day moving average is $90.37 and its 200 day moving average is $94.09. The company has a market cap of $27.76 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.11 and a beta of 1.44.

State Street (NYSE:STT) last announced its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.30 billion. During the same period in the prior year, the company earned $1.69 EPS. Sell-side analysts forecast that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.76 per share. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.12%. State Street’s dividend payout ratio (DPR) is presently 34.12%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. The Goldman Sachs Group set a $98.00 price target on State Street and gave the company a “buy” rating in a report on Thursday, April 17th. Citigroup decreased their target price on State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Truist Financial upgraded State Street from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $112.00 in a research note on Wednesday, May 28th. Evercore ISI cut their price objective on shares of State Street from $109.00 to $106.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods lowered their target price on shares of State Street from $118.00 to $113.00 and set an “outperform” rating on the stock in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $102.54.

Insider Activity

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the transaction, the chief accounting officer now owns 7,354 shares of the company’s stock, valued at approximately $667,154.88. The trade was a 15.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

About State Street

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.