5,641 Shares in State Street Corporation (NYSE:STT) Acquired by Index Fund Advisors Inc.

Index Fund Advisors Inc. purchased a new position in shares of State Street Corporation (NYSE:STT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,641 shares of the asset manager's stock, valued at approximately $505,000.

Other institutional investors have also made changes to their positions in the company. First Pacific Financial acquired a new stake in State Street in the first quarter valued at approximately $25,000. Coppell Advisory Solutions LLC lifted its stake 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 valued at $42,000 after acquiring an additional 412 shares during the last quarter. Golden State Wealth Management LLC lifted its stake 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 valued at $43,000 after acquiring an additional 310 shares during the last quarter. MV Capital Management Inc. lifted its stake in State Street by 98.4% in the first quarter. MV Capital Management Inc. now owns 506 shares of the asset manager's stock valued at $45,000 after acquiring an additional 251 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake 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 valued at $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 Trading Up 0.3%

Shares of State Street stock opened at $109.48 on Thursday. The firm has a market capitalization of $31.22 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 1.27 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. The company's fifty day moving average price is $99.05 and its two-hundred day moving average price is $94.82. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $110.97.

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

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Tuesday, July 1st. State Street's payout ratio is 34.12%.

Insider Buying and Selling at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the sale, the chief accounting officer owned 7,354 shares of the company's stock, valued at approximately $667,154.88. This represents a 15.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on STT. Wells Fargo & Company boosted their price objective on shares of State Street from $113.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday. Keefe, Bruyette & Woods reduced their price objective on shares of State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Evercore ISI boosted their target price on shares of State Street from $102.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Bank of America boosted their target price on shares of State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 2nd. Finally, Truist Financial boosted their target price on shares of State Street from $112.00 to $122.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $109.92.

State Street Profile

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.

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