State Street Corporation $STT Shares Sold by Mather Group LLC.

Mather Group LLC. cut its holdings in State Street Corporation (NYSE:STT) by 13.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,059 shares of the asset manager’s stock after selling 318 shares during the quarter. Mather Group LLC.’s holdings in State Street were worth $219,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC purchased a new stake in State Street during the 4th quarter valued at approximately $296,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of State Street by 14.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,006 shares of the asset manager’s stock valued at $3,240,000 after purchasing an additional 4,220 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of State Street by 13.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,157 shares of the asset manager’s stock worth $104,000 after purchasing an additional 134 shares during the last quarter. Versant Capital Management Inc grew its position in State Street by 297.7% in the 1st quarter. Versant Capital Management Inc now owns 2,903 shares of the asset manager’s stock valued at $260,000 after buying an additional 2,173 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in State Street by 10,172.7% in the 1st quarter. GAMMA Investing LLC now owns 328,933 shares of the asset manager’s stock valued at $29,449,000 after buying an additional 325,731 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Stock Up 1.2%

STT opened at $115.64 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market cap of $32.81 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 1.13 and a beta of 1.50. State Street Corporation has a one year low of $72.81 and a one year high of $116.37. The business’s fifty day moving average is $112.32 and its two-hundred day moving average is $100.48.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.17. State Street had a return on equity of 12.96% and a net margin of 12.59%.The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the company posted $2.15 EPS. The business’s revenue was up 2.9% on a year-over-year basis. Analysts anticipate that State Street Corporation will post 9.68 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 14th. Stockholders of record on Wednesday, October 1st will be given a $0.84 dividend. This is a boost from State Street’s previous quarterly dividend of $0.76. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Wednesday, October 1st. State Street’s dividend payout ratio (DPR) is currently 34.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on STT shares. Evercore ISI upped their price objective on shares of State Street from $102.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. TD Cowen began coverage on shares of State Street in a report on Thursday. They set a “buy” rating for the company. Truist Financial lifted their price objective on State Street from $116.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 14th. Wells Fargo & Company boosted their target price on State Street from $113.00 to $121.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Finally, The Goldman Sachs Group raised their price target on State Street from $98.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.18.

Insider Buying and Selling at State Street

In related news, EVP Michael L. Richards sold 990 shares of State Street stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $109.29, for a total transaction of $108,197.10. Following the completion of the transaction, the executive vice president directly owned 41,332 shares in the company, valued at $4,517,174.28. The trade was a 2.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by company insiders.

State Street Profile

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.