Compass Financial Management LLC Invests $1.42 Million in State Street Corporation $STT

Compass Financial Management LLC purchased a new stake in State Street Corporation (NYSE:STT) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 8,245 shares of the asset manager’s stock, valued at approximately $1,424,000.

Other institutional investors have also modified their holdings of the company. Western Wealth Management LLC raised its stake in State Street by 3.1% during the first quarter. Western Wealth Management LLC now owns 2,001 shares of the asset manager’s stock worth $253,000 after acquiring an additional 60 shares during the period. Chicago Partners Investment Group LLC boosted its stake in State Street by 1.6% in the fourth quarter. Chicago Partners Investment Group LLC now owns 5,351 shares of the asset manager’s stock valued at $675,000 after acquiring an additional 83 shares during the period. Arjuna Capital boosted its stake in State Street by 0.4% in the fourth quarter. Arjuna Capital now owns 25,139 shares of the asset manager’s stock valued at $3,243,000 after acquiring an additional 95 shares during the period. CX Institutional grew its holdings in shares of State Street by 1.0% during the second quarter. CX Institutional now owns 9,788 shares of the asset manager’s stock valued at $1,660,000 after purchasing an additional 98 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of State Street by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 32,024 shares of the asset manager’s stock valued at $4,053,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Insiders Place Their Bets

In other news, EVP W. Bradford Hu sold 9,758 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $184.52, for a total value of $1,800,546.16. Following the completion of the transaction, the executive vice president owned 49,794 shares of the company’s stock, valued at approximately $9,187,988.88. This represents a 16.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 firm’s 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 transaction, the chief executive officer directly owned 240,959 shares in the company, valued at $44,377,419.03. This trade represents a 5.70% decrease in their ownership of the stock. 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 quarter, insiders sold 49,576 shares of company stock worth $8,415,875. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

STT has been the topic of several recent research reports. Weiss Ratings raised State Street from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, May 28th. Evercore set a $200.00 price objective on State Street in a research note on Monday, July 20th. JPMorgan Chase & Co. upped their price objective on State Street from $176.50 to $187.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Barclays increased their target price on State Street from $165.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Finally, Royal Bank Of Canada boosted their price target 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. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $185.38.

State Street Stock Performance

STT opened at $187.22 on Friday. The business’s 50 day moving average is $180.11 and its 200-day moving average is $153.79. The stock has a market cap of $51.43 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 0.77 and a beta of 1.41. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. State Street Corporation has a twelve month low of $104.64 and a twelve month high of $195.18.

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

State Street Increases Dividend

The firm also recently declared 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 is a boost from State Street’s previous quarterly dividend of $0.84. The ex-dividend date is Thursday, October 1st. This represents a $3.68 dividend on an annualized basis and a yield of 2.0%. State Street’s 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.