State Street Corporation $STT Shares Sold by Todd Asset Management LLC

Todd Asset Management LLC reduced its position in State Street Corporation (NYSE:STT) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 216,346 shares of the asset manager’s stock after selling 4,293 shares during the period. Todd Asset Management LLC owned about 0.08% of State Street worth $27,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Brighton Jones LLC acquired a new position in State Street during the fourth quarter worth $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in State Street by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock worth $2,885,000 after acquiring an additional 918 shares during the period. NewEdge Advisors LLC raised its position in State Street by 105.2% during the first quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock worth $913,000 after acquiring an additional 5,226 shares during the period. Empowered Funds LLC raised its position in State Street by 220.1% during the first quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock worth $2,065,000 after acquiring an additional 15,996 shares during the period. Finally, Woodline Partners LP raised its position in State Street by 38.4% during the first quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock worth $2,182,000 after acquiring an additional 6,767 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Price Performance

State Street stock opened at $153.96 on Monday. State Street Corporation has a 52-week low of $94.19 and a 52-week high of $156.18. The firm has a market capitalization of $42.61 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 0.84 and a beta of 1.45. The company has a fifty day simple moving average of $139.76 and a 200-day simple moving average of $130.93. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last released its earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.20. State Street had a net margin of 13.47% and a return on equity of 14.22%. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the prior year, the firm earned $2.04 earnings per share. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, equities analysts anticipate that State Street Corporation will post 12.35 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.2%. State Street’s dividend payout ratio is presently 34.08%.

Insider Transactions at State Street

In other news, COO Mostapha Tahiri sold 9,611 shares of the company’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $152.93, for a total transaction of $1,469,810.23. Following the completion of the sale, the chief operating officer owned 64,642 shares of the company’s stock, valued at $9,885,701.06. This represents a 12.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Plansky sold 16,100 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the sale, the executive vice president directly owned 56,162 shares of the company’s stock, valued at $6,982,059.84. The trade was a 22.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,711 shares of company stock valued at $3,933,032 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Key State Street News

Here are the key news stories impacting State Street this week:

• Positive Sentiment: State Street announced a quarterly dividend of $0.84 per share, reinforcing its income profile and signaling management confidence in cash generation. The payout supports investor demand for the stock. Article: State Street Corporation Declares Dividends on its Common Stock and Non-Cumulative Perpetual Preferred Stock Series “G,” “I,” “J,” and “K”
• Positive Sentiment: The company opened a new Manila office to expand global operations, which suggests continued investment in growth, efficiency, and client servicing across international markets. Article: State Street opens new Manila office to expand global operations
• Positive Sentiment: State Street also expanded its stake in Strive Asset Management, a move that may be viewed as a constructive investment decision and a sign of active portfolio positioning. Article: State Street Expands Strive Asset Management (ASST) Holdings by 770% in $17.7M Investment
• Neutral Sentiment: Several disclosures showed State Street entities reducing or ceasing substantial holdings in Australian companies such as Service Stream, Viva Energy, Collins Foods, Elsight, Fortescue, HMC Capital, and PWR Holdings. These are routine portfolio updates and are unlikely to materially affect State Street’s overall outlook. Article: State Street Entities Cease to Be Substantial Holders in Service Stream

Analyst Upgrades and Downgrades

STT has been the subject of a number of research analyst reports. Citigroup upped their price objective on shares of State Street from $150.00 to $172.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Zacks Research upgraded shares of State Street from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Weiss Ratings restated a “buy (b)” rating on shares of State Street in a research report on Monday, April 20th. Keefe, Bruyette & Woods upped their price objective on shares of State Street from $157.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Finally, Truist Financial upped their price objective on shares of State Street from $136.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, April 20th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $155.77.

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.