National Pension Service Sells 4,005 Shares of State Street Corporation $STT

National Pension Service cut its stake in shares of State Street Corporation (NYSE:STT) by 0.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 519,939 shares of the asset manager’s stock after selling 4,005 shares during the period. National Pension Service’s holdings in State Street were worth $88,182,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Brighton Jones LLC bought a new position in State Street in the 4th quarter worth about $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in State Street by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock valued at $2,885,000 after purchasing an additional 918 shares in the last quarter. NewEdge Advisors LLC increased its stake in State Street by 105.2% during the 1st quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock valued at $913,000 after purchasing an additional 5,226 shares in the last quarter. Empowered Funds LLC raised its holdings in State Street by 220.1% in the first quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock worth $2,065,000 after buying an additional 15,996 shares during the last quarter. Finally, Woodline Partners LP raised its holdings in State Street by 38.4% in the first quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock worth $2,182,000 after buying an additional 6,767 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Key Headlines Impacting State Street

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

• Positive Sentiment: An analysis argues that State Street’s preferred shares offer an approximately 6.8% dividend yield, which could appeal to income-focused investors and highlight the company’s ability to support attractive capital returns. The article primarily concerns preferred securities, so the direct effect on STT common shares may be limited. State Street: 6.8% Preferred Dividend Yield Is Too Good To Ignore
• Positive Sentiment: State Street appointed Tim Helyar to lead its Asia-Pacific business effective September 10. The leadership change may support the company’s regional growth strategy in asset servicing and investment management, though no immediate financial impact was disclosed. State Street Corporation Announces Appointment of Tim Helyar to Head of Asia Pacific
• Neutral Sentiment: State Street and affiliated asset-management entities reported that their holdings fell below substantial-holder thresholds in IDP Education, Inghams Group, Sims, Breville Group, Greatland Resources, Amotiv, Austal, Elsight, Service Stream, and Smartgroup. These notices may reflect routine portfolio rebalancing, index changes, or client-driven trading; they do not necessarily represent a negative view of State Street or materially affect its earnings. State Street Ownership Disclosures
• Negative Sentiment: Harbor Mid Cap Value Fund trimmed its State Street position following the stock’s appreciation. The sale could create modest near-term supply and signals that at least one investor is taking profits, although it does not indicate a change in State Street’s fundamentals. Harbor Mid Cap Value Fund Trimmed State Street Following Appreciation

State Street Price Performance

NYSE STT opened at $193.37 on Friday. The business’s fifty day moving average price is $186.78 and its 200-day moving average price is $160.33. The stock has a market capitalization of $53.12 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 0.91 and a beta of 1.41. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.59 and a quick ratio of 0.59. State Street Corporation has a 1-year low of $104.64 and a 1-year high of $195.93.

State Street (NYSE:STT) last issued its quarterly earnings data on Thursday, July 16th. The asset manager reported $3.65 EPS for the quarter, topping the consensus estimate of $3.34 by $0.31. State Street had a return on equity of 15.26% and a net margin of 15.02%.The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same quarter in the previous year, the company posted $2.04 earnings per share. State Street’s revenue was up 23.3% compared to the same quarter last year. On average, equities analysts predict that State Street Corporation will post 13.76 earnings per share for the current year.

State Street Increases Dividend

The firm also recently declared 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. The ex-dividend date is Thursday, October 1st. This is a boost from State Street’s previous quarterly dividend of $0.84. This represents a $3.68 annualized dividend and a yield of 1.9%. State Street’s payout ratio is 32.45%.

Insider Activity at State Street

In other news, EVP W. Hu sold 9,758 shares of State Street stock in a transaction on Friday, July 24th. The shares were sold at an average price of $184.52, for a total transaction of $1,800,546.16. Following the transaction, the executive vice president owned 49,794 shares in the company, valued at $9,187,988.88. This trade represents a 16.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ronald O’Hanley sold 14,553 shares of the business’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 sale, the chief executive officer directly owned 240,959 shares of the company’s stock, valued at approximately $44,377,419.03. The trade was a 5.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

STT has been the topic of several analyst reports. Evercore set a $200.00 target price on shares of State Street in a research note on Monday, July 20th. Citigroup raised their price target on shares of State Street from $193.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Morgan Stanley boosted their price objective on shares of State Street from $183.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. UBS Group set a $176.00 price objective on State Street in a research report on Friday, June 26th. Finally, Wells Fargo & Company increased their target price on State Street from $196.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $185.38.

State Street Company Profile

State Street Corporation is a financial services company headquartered in Boston, Massachusetts. Founded in 1792, it serves institutional investors, asset managers, asset owners, insurance companies, official institutions and other financial organizations worldwide.

Through its investment servicing business, State Street provides custody and fund administration, accounting, transfer agency, middle-office outsourcing, collateral management, performance measurement and regulatory reporting services.