3,975 Shares in State Street Corporation $STT Acquired by Evanson Financial LLC

Evanson Financial LLC acquired a new position in shares of State Street Corporation (NYSE:STT) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,975 shares of the asset manager’s stock, valued at approximately $674,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Bill Few Associates Inc. acquired a new position in shares of State Street during the second quarter valued at $204,000. Graves Light Lenhart Wealth Inc. acquired a new stake in shares of State Street in the 2nd quarter worth about $223,000. GAMMA Investing LLC increased its holdings in shares of State Street by 7.3% in the 2nd quarter. GAMMA Investing LLC now owns 7,875 shares of the asset manager’s stock worth $1,336,000 after acquiring an additional 534 shares during the period. Harbor Investment Advisory LLC lifted its position in State Street by 3.2% in the 2nd quarter. Harbor Investment Advisory LLC now owns 6,208 shares of the asset manager’s stock valued at $1,053,000 after purchasing an additional 192 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. bought a new stake in State Street in the 2nd quarter valued at about $669,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other State Street news, CEO Hanley Ronald P. O sold 14,553 shares of the business’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $184.17, for a total transaction of $2,680,226.01. Following the sale, the chief executive officer directly owned 240,959 shares of the company’s stock, valued at $44,377,419.03. The trade was a 5.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Bradford Hu sold 9,758 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $184.52, for a total value of $1,800,546.16. Following the completion of the sale, the executive vice president owned 49,794 shares of the company’s stock, valued at $9,187,988.88. The trade was a 16.39% 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. In the last three months, insiders have sold 49,576 shares of company stock worth $8,415,875. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

STT has been the subject of several recent analyst reports. Bank of America upped their target price on shares of State Street from $160.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Morgan Stanley boosted their price objective on State Street from $183.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Citigroup increased their price objective on State Street from $193.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Zacks Research upgraded State Street from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Finally, UBS Group set a $176.00 target price on State Street in a research note on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $185.38.

State Street Stock Performance

Shares of STT opened at $184.46 on Friday. State Street Corporation has a one year low of $104.64 and a one year high of $192.51. The company has a 50-day moving average of $174.80 and a two-hundred day moving average of $149.54. The stock has a market cap of $50.67 billion, a price-to-earnings ratio of 16.27, a PEG 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.

State Street (NYSE:STT) last released its earnings results on Thursday, July 16th. The asset manager reported $3.65 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.31. State Street had a net margin of 15.02% and a return on equity of 15.26%. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same period last year, the firm posted $2.04 earnings per share. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, equities research analysts expect that State Street Corporation will post 13.75 earnings per share for the current year.

State Street Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.0%. The ex-dividend date is Thursday, October 1st. This is a positive change from State Street’s previous quarterly dividend of $0.84. State Street’s dividend payout ratio is presently 29.63%.

State Street 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.