XML Financial LLC Purchases Shares of 5,445 State Street Corporation $STT

XML Financial LLC acquired a new position in State Street Corporation (NYSE:STT) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 5,445 shares of the asset manager’s stock, valued at approximately $923,000.

Other institutional investors also recently modified their holdings of the company. Laidlaw Wealth Management LLC acquired a new position in shares of State Street in the second quarter valued at $530,000. Proficio Capital Partners LLC bought a new position in State Street in the second quarter worth $389,000. Nwam LLC acquired a new stake in State Street during the second quarter worth $227,000. BTG Pactual Asset Management US LLC boosted its stake in State Street by 38.3% during the second quarter. BTG Pactual Asset Management US LLC now owns 3,186 shares of the asset manager’s stock worth $540,000 after buying an additional 882 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC increased its holdings in State Street by 30.1% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 71,916 shares of the asset manager’s stock valued at $12,197,000 after buying an additional 16,623 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Up 1.2%

STT opened at $190.13 on Thursday. The firm’s 50-day simple moving average is $183.51 and its 200-day simple moving average is $157.36. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.59. State Street Corporation has a twelve month low of $104.64 and a twelve month high of $195.93. The firm has a market cap of $52.23 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 0.89 and a beta of 1.41.

State Street (NYSE:STT) last announced its earnings results on Thursday, July 16th. The asset manager reported $3.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.34 by $0.31. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.88 billion. State Street had a net margin of 15.02% and a return on equity of 15.26%. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the company posted $2.04 EPS. Equities research analysts anticipate that State Street Corporation will post 13.75 EPS for the current fiscal year.

State Street Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, October 1st. This is a positive change from State Street’s previous quarterly dividend of $0.84. This represents a $3.68 annualized dividend and a dividend yield of 1.9%. State Street’s dividend payout ratio (DPR) is 29.63%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STT. Evercore set a $200.00 price objective on shares of State Street in a research note on Monday, July 20th. Citigroup lifted their target price 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. JPMorgan Chase & Co. upped their target price on shares of State Street from $176.50 to $187.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. The Goldman Sachs Group increased their price target on shares of State Street from $168.00 to $194.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Finally, Morgan Stanley raised their price target on shares of State Street from $183.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Two 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $185.38.

Insider Activity

In related news, EVP Michael L. Richards sold 1,500 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $162.14, for a total transaction of $243,210.00. Following the sale, the executive vice president directly owned 41,827 shares in the company, valued at $6,781,829.78. This represents a 3.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $2,680,226.01. Following the sale, the chief executive officer directly owned 240,959 shares of the company’s stock, valued at $44,377,419.03. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 25,811 shares of company stock worth $4,723,982. Insiders own 0.27% of the company’s stock.

State Street 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.