State Street Corporation $STT Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. increased its holdings in shares of State Street Corporation (NYSE:STT) by 51.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,374 shares of the asset manager’s stock after buying an additional 38,904 shares during the quarter. State Street accounts for approximately 0.5% of Edgestream Partners L.P.’s holdings, making the stock its 8th biggest position. Edgestream Partners L.P.’s holdings in State Street were worth $14,475,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Wilkerson Advisory Group LLC acquired a new stake in State Street during the 4th quarter worth about $29,000. Phillip James Consulting Co. acquired a new position in shares of State Street in the 4th quarter valued at about $30,000. JPL Wealth Management LLC acquired a new position in shares of State Street in the 3rd quarter valued at about $29,000. Whipplewood Advisors LLC purchased a new stake in shares of State Street in the first quarter worth approximately $34,000. Finally, Reflection Asset Management purchased a new stake in shares of State Street in the fourth quarter worth approximately $35,000. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Stock Down 3.6%

Shares of State Street stock opened at $175.94 on Thursday. The firm has a market cap of $48.69 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 0.76 and a beta of 1.42. The stock has a 50-day simple moving average of $170.76 and a 200-day simple moving average of $147.10. State Street Corporation has a 52-week low of $104.64 and a 52-week high of $192.51. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.59 and a quick ratio of 0.57.

State Street (NYSE:STT) last released its quarterly earnings data 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 firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.88 billion. State Street had a return on equity of 15.26% and a net margin of 15.02%.The firm’s revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.04 earnings per share. On average, equities research analysts expect that State Street Corporation will post 13.68 earnings per share for the current fiscal year.

State Street Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Thursday, October 1st will be given a $0.92 dividend. This is a positive change from State Street’s previous quarterly dividend of $0.84. This represents a $3.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, October 1st. State Street’s payout ratio is presently 29.63%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on STT. Wells Fargo & Company raised their price target on shares of State Street from $196.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Zacks Research upgraded shares of State Street from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. increased their target price on shares of State Street from $158.50 to $176.50 and gave the stock a “neutral” rating in a research report on Monday, July 6th. Argus lifted their target price on shares of State Street from $140.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group boosted their price target 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. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $184.72.

Key Stories Impacting State Street

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

• Positive Sentiment: Latin American expansion: State Street plans to acquire Santander CACEIS’s Latin American Securities Services joint venture, expanding its custody and securities-services operations across key regional markets. The transaction could add scale, clients and long-term revenue opportunities, although financial terms and closing conditions were not disclosed. State Street to Expand Latam Presence With Santander CACEIS JV Buyout
• Positive Sentiment: Dividend increase: State Street raised its quarterly dividend to $0.92 per share from $0.84, implying an annualized payout of $3.68 and a yield of approximately 2%. The increase signals confidence in capital generation and may support income-oriented demand for the stock. State Street EVP Sells Stock
• Neutral Sentiment: Strong earnings backdrop: State Street’s latest quarterly report showed adjusted earnings of $3.65 per share and revenue of $4.05 billion, exceeding estimates, with revenue up 23.3% year over year. Analysts maintain a generally positive outlook, but much of that strength may already be reflected in the elevated share price.
• Neutral Sentiment: Relative performance: State Street underperformed its competitors in Tuesday trading, indicating weaker near-term sentiment even as the stock remains well above its 50-day and 200-day moving averages. State Street Corp. stock underperforms Tuesday when compared to competitors
• Negative Sentiment: Insider selling: CEO Ronald O. Hanley sold about $2.68 million of shares, while EVP W. Bradford Hu sold approximately $1.80 million. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing the negative signal, but the sales could still weigh modestly on sentiment. State Street EVP Sells $1,800,546.16 in Stock

Insider Transactions at State Street

In other news, EVP Michael L. Richards sold 1,500 shares of the stock in a transaction on Monday, June 8th. The shares were 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $2,680,226.01. Following the transaction, the chief executive officer owned 240,959 shares in the company, valued at $44,377,419.03. This represents a 5.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 49,576 shares of company stock worth $8,415,875 in the last 90 days. 0.27% of the stock is owned by insiders.

State Street Company 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.