3,297 Shares in State Street Corporation $STT Bought by PEAK6 LLC

PEAK6 LLC bought a new position in State Street Corporation (NYSE:STT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,297 shares of the asset manager’s stock, valued at approximately $559,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc bought a new stake in shares of State Street in the second quarter valued at about $28,000. Wilkerson Advisory Group LLC bought a new position in shares of State Street during the fourth quarter worth about $29,000. JPL Wealth Management LLC bought a new position in shares of State Street during the third quarter worth about $29,000. Phillip James Consulting Co. acquired a new stake in State Street in the 4th quarter valued at approximately $30,000. Finally, Elevation Wealth Partners LLC raised its position in State Street by 153.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 175 shares of the asset manager’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Stock Up 0.0%

STT stock opened at $187.22 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.04. The business has a 50 day moving average price of $180.11 and a two-hundred day moving average price of $153.94. The company has a market cap of $51.43 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 0.77 and a beta of 1.41. State Street Corporation has a twelve month low of $104.64 and a twelve month high of $195.18.

State Street (NYSE:STT) last announced 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. The company had revenue of $4.05 billion for 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%.The business’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.04 EPS. Analysts anticipate that State Street Corporation will post 13.75 EPS for the current fiscal year.

State Street Increases Dividend

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

Analysts Set New Price Targets

STT has been the subject of a number of recent research reports. Weiss Ratings raised State Street from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, May 28th. The Goldman Sachs Group lifted their price objective on shares of State Street from $168.00 to $194.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Barclays boosted their price objective on shares of State Street from $165.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Morgan Stanley raised their target price on shares of State Street from $183.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Finally, Wells Fargo & Company raised their target price on shares of State Street from $196.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Two investment 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 stock. According to MarketBeat, State Street has a consensus rating of “Moderate Buy” and an average price target of $185.38.

Insider Buying and Selling at State Street

In other news, CEO Hanley Ronald P. O sold 14,553 shares of State Street stock in a transaction dated 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 transaction, the chief executive officer owned 240,959 shares of the company’s stock, valued at $44,377,419.03. This trade represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 dated Monday, June 8th. The stock was sold at an average price of $162.14, for a total transaction of $243,210.00. Following the transaction, the executive vice president owned 41,827 shares in the company, valued at $6,781,829.78. This represents a 3.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 49,576 shares of company stock worth $8,415,875 over the last quarter. 0.27% of the stock is currently owned by insiders.

About State Street

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.