Osmosis Investment Management UK Ltd Purchases New Stake in State Street Corporation $STT

Osmosis Investment Management UK Ltd acquired a new position in State Street Corporation (NYSE:STT) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 10,682 shares of the asset manager’s stock, valued at approximately $1,812,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc acquired a new position in State Street during the 2nd quarter valued at about $28,000. Wilkerson Advisory Group LLC acquired a new stake in shares of State Street during the 4th quarter worth approximately $29,000. JPL Wealth Management LLC acquired a new stake in shares of State Street during the 3rd quarter worth approximately $29,000. Phillip James Consulting Co. bought a new stake in shares of State Street during the fourth quarter worth approximately $30,000. Finally, Elevation Wealth Partners LLC raised its stake in shares of State Street by 153.6% during the second quarter. Elevation Wealth Partners LLC now owns 175 shares of the asset manager’s stock worth $30,000 after buying an additional 106 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on STT. Morgan Stanley raised their price objective on shares of State Street from $183.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Barclays increased their price target on State Street from $165.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Citigroup raised their price target on State Street from $193.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Zacks Research raised State Street from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. upped their price objective on State Street from $176.50 to $187.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $185.38.

Insider Buying and Selling at State Street

In other news, CEO Hanley Ronald P. O sold 14,553 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 240,959 shares of the company’s stock, valued at $44,377,419.03. This trade represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael L. Richards sold 1,500 shares of State Street stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 41,827 shares in the company, valued at $6,781,829.78. This trade represents a 3.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 25,811 shares of company stock worth $4,723,982. Corporate insiders own 0.27% of the company’s stock.

State Street Trading Up 2.1%

STT opened at $191.00 on Tuesday. The stock has a market capitalization of $52.47 billion, a P/E ratio of 16.84, a P/E/G ratio of 0.77 and a beta of 1.41. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. State Street Corporation has a 12 month low of $104.64 and a 12 month high of $195.18. The firm’s fifty day simple moving average is $180.59 and its 200 day simple moving average is $154.37.

State Street (NYSE:STT) last released 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. State Street had a return on equity of 15.26% and a net margin of 15.02%.The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the prior year, the company earned $2.04 EPS. The company’s revenue was up 23.3% on a year-over-year basis. As a group, 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 announced a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Thursday, October 1st will be given a $0.92 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $3.68 dividend on an annualized basis and a yield of 1.9%. This is a boost from State Street’s previous quarterly dividend of $0.84. State Street’s payout ratio is 29.63%.

About State Street

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.