Coppell Advisory Solutions LLC Invests $2.04 Million in State Street Corporation $STT

Coppell Advisory Solutions LLC bought a new stake in shares of State Street Corporation (NYSE:STT - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,996 shares of the asset manager's stock, valued at approximately $2,035,000.

A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of State Street during the 2nd quarter worth approximately $4,139,389,000. Regents of The University of California boosted its position in shares of State Street by 15.6% during the first quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager's stock valued at $1,273,841,000 after purchasing an additional 1,358,923 shares in the last quarter. Morgan Stanley boosted its position in shares of State Street by 9.0% during the fourth quarter. Morgan Stanley now owns 5,222,382 shares of the asset manager's stock valued at $673,740,000 after purchasing an additional 433,201 shares in the last quarter. Victory Capital Management Inc. grew its stake in State Street by 30.8% in the fourth quarter. Victory Capital Management Inc. now owns 4,559,546 shares of the asset manager's stock worth $588,227,000 after purchasing an additional 1,074,174 shares during the period. Finally, Franklin Resources Inc. grew its stake in State Street by 1.7% in the fourth quarter. Franklin Resources Inc. now owns 3,926,321 shares of the asset manager's stock worth $506,534,000 after purchasing an additional 67,309 shares during the period. 87.44% of the stock is owned by institutional investors.

State Street Stock Up 1.2%

NYSE:STT opened at $190.13 on Thursday. The firm has a market cap of $52.23 billion, a P/E ratio of 16.77, a P/E/G ratio of 0.89 and a beta of 1.41. 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 fifty-two week low of $104.64 and a fifty-two week high of $195.93. The firm has a 50-day simple moving average of $183.51 and a two-hundred day simple moving average of $157.36.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Thursday, July 16th. The asset manager reported $3.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.31. State Street had a net margin of 15.02% and a return on equity of 15.26%. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the prior year, the firm posted $2.04 earnings per share. The business's revenue was up 23.3% on a year-over-year basis. Analysts predict that State Street Corporation will post 13.75 earnings per share for the current fiscal year.

State Street Increases Dividend

The firm also recently disclosed 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. This is a boost from State Street's previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $3.68 annualized dividend and a yield of 1.9%. State Street's payout ratio is currently 29.63%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Weiss Ratings reissued a "buy (b+)" rating on shares of State Street in a research report on Tuesday, August 25th. Truist Financial reaffirmed a "hold" rating and issued a $191.00 target price (up from $176.00) on shares of State Street in a research report on Friday, July 17th. Barclays lifted their price target on shares of State Street from $165.00 to $200.00 and gave the company an "equal weight" rating in a research report on Friday, July 17th. Evercore set a $200.00 price objective on shares of State Street in a research note on Monday, July 20th. Finally, Royal Bank Of Canada upped their price objective on shares of State Street from $155.00 to $196.00 and gave the stock a "sector perform" rating in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $185.38.

Insider Activity at State Street

In other State Street news, CEO Hanley Ronald P. O sold 14,553 shares of the stock in a transaction on Tuesday, July 21st. The stock was 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 in the company, valued at approximately $44,377,419.03. This trade represents a 5.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Bradford Hu sold 9,758 shares of State Street stock in a transaction on Friday, July 24th. The stock was sold at an average price of $184.52, for a total value of $1,800,546.16. Following the completion of the sale, the executive vice president directly owned 49,794 shares of the company's stock, valued at approximately $9,187,988.88. The trade was a 16.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 25,811 shares of company stock valued at $4,723,982. 0.27% of the stock is owned by corporate insiders.

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.

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