11,711 Shares in State Street Corporation $STT Bought by First National Bank of Omaha

First National Bank of Omaha acquired a new stake in State Street Corporation (NYSE:STT) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 11,711 shares of the asset manager’s stock, valued at approximately $1,986,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bell Investment Advisors Inc acquired a new stake in shares of State Street in the 2nd quarter valued at about $28,000. Elevation Wealth Partners LLC lifted its holdings in shares of State Street by 153.6% in the second quarter. Elevation Wealth Partners LLC now owns 175 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Kelleher Financial Advisors acquired a new position in shares of State Street during the second quarter worth about $33,000. Wilkerson Advisory Group LLC acquired a new position in shares of State Street during the fourth quarter worth about $29,000. Finally, Phillip James Consulting Co. bought a new position in shares of State Street during the fourth quarter worth about $30,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on STT. Evercore set a $200.00 target price on State Street in a research report on Monday, July 20th. JPMorgan Chase & Co. upped their price target on State Street from $176.50 to $187.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Zacks Research raised shares of State Street from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada lifted their price objective on shares of State Street from $155.00 to $196.00 and gave the company a “sector perform” rating in a report on Friday, July 17th. Finally, Morgan Stanley boosted their price objective on shares of State Street from $183.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, State Street currently has a consensus rating of “Moderate Buy” and an average price target of $185.38.

State Street Stock Performance

Shares of STT opened at $185.91 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a 50-day moving average of $179.34 and a 200-day moving average of $153.18. The company has a market cap of $51.07 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 0.79 and a beta of 1.41. State Street Corporation has a one year low of $104.64 and a one year high of $195.18.

State Street (NYSE:STT) last posted 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. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.88 billion. State Street had a return on equity of 15.26% and a net margin of 15.02%.State Street’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the company posted $2.04 earnings per share. As a group, equities analysts forecast that State Street Corporation will post 13.75 earnings per share for the current year.

State Street Increases Dividend

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

Insider Transactions at State Street

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

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.