MQS Management LLC Has $481,000 Stock Position in State Street Corporation $STT

MQS Management LLC lowered its position in shares of State Street Corporation (NYSE:STT) by 47.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,725 shares of the asset manager’s stock after selling 3,331 shares during the quarter. MQS Management LLC’s holdings in State Street were worth $481,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. JPL Wealth Management LLC acquired a new stake in shares of State Street during the 3rd quarter worth about $29,000. Measured Wealth Private Client Group LLC bought a new stake in State Street during the 3rd quarter worth about $35,000. Ameriflex Group Inc. grew its holdings in State Street by 102.5% during the 3rd quarter. Ameriflex Group Inc. now owns 318 shares of the asset manager’s stock worth $37,000 after acquiring an additional 161 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its holdings in State Street by 38.2% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after acquiring an additional 94 shares during the last quarter. Finally, Board of the Pension Protection Fund bought a new stake in State Street during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

More 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

Insider Buying and Selling

In related news, EVP Michael L. Richards sold 3,000 shares of State Street stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the transaction, the executive vice president owned 43,522 shares of the company’s stock, valued at $6,697,600.58. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Plansky sold 16,100 shares of State Street stock in a transaction that occurred 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 transaction, the executive vice president directly owned 56,162 shares in the company, valued at $6,982,059.84. The trade was a 22.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,711 shares of company stock valued at $3,933,032 in the last 90 days. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on STT shares. Citigroup increased their price objective on shares of State Street from $150.00 to $172.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Weiss Ratings reissued a “buy (b)” rating on shares of State Street in a report on Monday, April 20th. Morgan Stanley increased their price objective on shares of State Street from $155.00 to $166.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Zacks Research raised shares of State Street from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Finally, Truist Financial increased their price objective on shares of State Street from $136.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, April 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $155.77.

State Street Stock Up 0.2%

Shares of NYSE STT opened at $153.96 on Friday. The firm’s 50-day moving average is $139.76 and its 200-day moving average is $130.83. State Street Corporation has a 1 year low of $94.19 and a 1 year high of $156.18. The firm has a market capitalization of $42.61 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 0.84 and a beta of 1.45. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the firm earned $2.04 EPS. State Street’s quarterly revenue was up 15.6% compared to the same quarter last year. Equities analysts expect that State Street Corporation will post 12.35 EPS for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $3.36 annualized dividend and a yield of 2.2%. State Street’s dividend payout ratio (DPR) is presently 34.08%.

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.