Themes Management Co LLC Buys New Shares in State Street Corporation $STT

Themes Management Co LLC purchased a new stake in State Street Corporation (NYSE:STT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 7,530 shares of the asset manager’s stock, valued at approximately $965,000.

A number of other large investors also recently modified their holdings of the business. Regents of The University of California bought a new stake in State Street during the third quarter worth about $324,576,000. Jones Financial Companies Lllp grew its stake in State Street by 11.7% in the third quarter. Jones Financial Companies Lllp now owns 208,600 shares of the asset manager’s stock valued at $24,139,000 after purchasing an additional 21,810 shares in the last quarter. Machina Capital S.A.S. bought a new position in State Street in the third quarter valued at approximately $2,622,000. AE Wealth Management LLC acquired a new position in shares of State Street during the 3rd quarter worth approximately $6,611,000. Finally, Impax Asset Management Group plc increased its position in shares of State Street by 49.2% during the 3rd quarter. Impax Asset Management Group plc now owns 127,984 shares of the asset manager’s stock worth $14,847,000 after purchasing an additional 42,198 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at State Street

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

State Street Stock Performance

Shares of NYSE STT opened at $153.96 on Tuesday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $42.61 billion, a P/E ratio of 15.61, a P/E/G ratio of 0.84 and a beta of 1.45. State Street Corporation has a 12 month low of $94.19 and a 12 month high of $156.18. The stock has a 50 day moving average of $140.38 and a 200-day moving average of $131.20.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.20. State Street had a return on equity of 14.22% and a net margin of 13.47%.The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the prior year, the business earned $2.04 EPS. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, equities research analysts predict that State Street Corporation will post 12.35 EPS for the current year.

State Street Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on STT. JPMorgan Chase & Co. increased their price objective on State Street from $137.50 to $158.50 and gave the company a “neutral” rating in a report on Monday, May 11th. Truist Financial upped their price target 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. Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a research note on Monday, April 20th. Seaport Research Partners reissued a “buy” rating and issued a $170.00 price objective on shares of State Street in a research report on Monday, April 20th. Finally, Bank of America upgraded shares of State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price objective on the stock in a research note on Monday, April 6th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, State Street presently has a consensus rating of “Moderate Buy” and an average target price of $155.77.

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.