State Street Corporation (NYSE:STT) Shares Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd increased its position in State Street Corporation (NYSE:STT) by 10.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,427 shares of the asset manager’s stock after purchasing an additional 5,993 shares during the period. IFM Investors Pty Ltd’s holdings in State Street were worth $5,788,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of STT. First Pacific Financial bought a new position in State Street in the first quarter worth about $25,000. Coppell Advisory Solutions LLC lifted its holdings in State Street by 2,942.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock worth $42,000 after acquiring an additional 412 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in State Street by 186.7% in the first quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager’s stock worth $43,000 after acquiring an additional 310 shares during the last quarter. MV Capital Management Inc. lifted its holdings in State Street by 98.4% in the first quarter. MV Capital Management Inc. now owns 506 shares of the asset manager’s stock worth $45,000 after acquiring an additional 251 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after acquiring an additional 311 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Stock Performance

STT opened at $110.31 on Friday. The company has a market capitalization of $31.46 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 1.28 and a beta of 1.45. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.57 and a quick ratio of 0.57. State Street Corporation has a 1-year low of $72.65 and a 1-year high of $110.80. The business has a 50 day moving average price of $97.77 and a two-hundred day moving average price of $94.54.

State Street (NYSE:STT) last released its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.06. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. State Street had a return on equity of 12.79% and a net margin of 12.85%. During the same period in the prior year, the firm posted $1.69 earnings per share. Research analysts predict that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be given a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a yield of 2.76%. State Street’s dividend payout ratio (DPR) is 34.12%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on STT shares. Truist Financial raised their target price on shares of State Street from $112.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday. Cfra Research cut State Street from a “moderate buy” rating to a “hold” rating in a report on Thursday, May 29th. Evercore ISI lifted their price target on State Street from $102.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday. Barclays cut their price target on State Street from $127.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods cut their price target on State Street from $118.00 to $113.00 and set an “outperform” rating on the stock in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, State Street presently has a consensus rating of “Hold” and an average price target of $106.46.

Insiders Place Their Bets

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the sale, the chief accounting officer directly owned 7,354 shares in the company, valued at $667,154.88. This represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by company insiders.

About State Street

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.