Cetera Investment Advisers Purchases 7,857 Shares of State Street Corporation $STT

Cetera Investment Advisers lifted its holdings in State Street Corporation (NYSE:STT) by 14.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 63,882 shares of the asset manager’s stock after purchasing an additional 7,857 shares during the quarter. Cetera Investment Advisers’ holdings in State Street were worth $8,085,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Chicago Partners Investment Group LLC raised its stake in State Street by 1.6% during the fourth quarter. Chicago Partners Investment Group LLC now owns 5,351 shares of the asset manager’s stock valued at $675,000 after purchasing an additional 83 shares in the last quarter. Arjuna Capital grew its stake in shares of State Street by 0.4% in the 4th quarter. Arjuna Capital now owns 25,139 shares of the asset manager’s stock worth $3,243,000 after buying an additional 95 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of State Street by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 32,024 shares of the asset manager’s stock worth $4,053,000 after buying an additional 100 shares in the last quarter. Security National Bank of SO Dak increased its holdings in shares of State Street by 0.5% in the 2nd quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock worth $2,289,000 after buying an additional 105 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its holdings in shares of State Street by 1.3% in the 4th quarter. Verdence Capital Advisors LLC now owns 8,060 shares of the asset manager’s stock worth $1,040,000 after buying an additional 106 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Insider Activity

In related news, CEO Hanley Ronald P. O sold 14,553 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 240,959 shares of the company’s stock, valued at approximately $44,377,419.03. This trade represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $243,210.00. Following the transaction, the executive vice president owned 41,827 shares of the company’s stock, valued at approximately $6,781,829.78. The trade was a 3.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 49,576 shares of company stock valued at $8,415,875. 0.27% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on STT shares. UBS Group set a $176.00 price target on shares of State Street in a report on Friday, June 26th. Barclays boosted their price objective on State Street from $165.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Evercore set a $200.00 price objective on State Street in a research report on Monday, July 20th. Truist Financial reaffirmed a “hold” rating and issued a $191.00 price objective (up from $176.00) on shares of State Street in a research note on Friday, July 17th. Finally, Weiss Ratings upgraded State Street from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, State Street currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.72.

State Street Price Performance

State Street stock opened at $184.60 on Friday. The firm has a 50-day moving average price of $171.96 and a 200-day moving average price of $147.71. The firm has a market capitalization of $51.09 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 0.76 and a beta of 1.42. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 1.04. State Street Corporation has a 12-month low of $104.64 and a 12-month high of $192.51.

State Street (NYSE:STT) last released its quarterly earnings results on Thursday, July 16th. The asset manager reported $3.65 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.31. State Street had a net margin of 15.02% and a return on equity of 15.26%. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same period in the previous year, the company earned $2.04 EPS. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, equities research analysts forecast that State Street Corporation will post 13.68 EPS for the current year.

State Street Increases Dividend

The firm also recently announced 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 dividend yield of 2.0%. This is a boost from State Street’s previous quarterly dividend of $0.84. The ex-dividend date is Thursday, October 1st. State Street’s dividend payout ratio (DPR) 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.