Machina Capital S.A.S. Invests $1.68 Million in State Street Corporation (NYSE:STT)

Machina Capital S.A.S. acquired a new stake in State Street Corporation (NYSE:STT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,746 shares of the asset manager's stock, valued at approximately $1,678,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of STT. Sequoia Financial Advisors LLC boosted its stake in State Street by 2.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,414 shares of the asset manager's stock valued at $395,000 after acquiring an additional 118 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of State Street by 40.8% in the 1st quarter. Larson Financial Group LLC now owns 407 shares of the asset manager's stock worth $36,000 after purchasing an additional 118 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of State Street by 13.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,157 shares of the asset manager's stock worth $104,000 after buying an additional 134 shares during the period. Huntington National Bank boosted its holdings in shares of State Street by 1.3% in the fourth quarter. Huntington National Bank now owns 11,671 shares of the asset manager's stock worth $1,146,000 after buying an additional 150 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of State Street by 8.4% during the first quarter. UMB Bank n.a. now owns 2,272 shares of the asset manager's stock worth $203,000 after purchasing an additional 176 shares during the period. Institutional investors and hedge funds own 87.44% of the company's stock.

State Street Trading Up 0.3%

Shares of State Street stock traded up $0.37 on Thursday, hitting $111.02. The stock had a trading volume of 1,999,777 shares, compared to its average volume of 2,346,665. The stock has a 50 day moving average of $102.31 and a 200 day moving average of $95.57. State Street Corporation has a twelve month low of $72.81 and a twelve month high of $111.61. The firm has a market capitalization of $31.66 billion, a P/E ratio of 12.43, a PEG ratio of 1.23 and a beta of 1.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.57 and a current ratio of 0.57.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The asset manager reported $2.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.17. State Street had a return on equity of 12.96% and a net margin of 12.59%. The firm had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.33 billion. During the same period in the prior year, the business earned $2.15 EPS. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts expect that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Wednesday, October 1st will be issued a $0.84 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $3.36 annualized dividend and a yield of 3.03%. This is a positive change from State Street's previous quarterly dividend of $0.76. State Street's dividend payout ratio (DPR) is 34.04%.

Insider Activity

In other State Street news, EVP Michael L. Richards sold 990 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.29, for a total value of $108,197.10. Following the completion of the transaction, the executive vice president owned 41,332 shares in the company, valued at $4,517,174.28. This trade represents a 2.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Elizabeth Schaefer sold 1,300 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the sale, the chief accounting officer owned 7,354 shares of the company's stock, valued at $667,154.88. The trade was a 15.02% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of analyst reports. Evercore ISI lifted their target price on shares of State Street from $102.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Citigroup boosted their target price on shares of State Street from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Morgan Stanley lifted their price target on shares of State Street from $110.00 to $114.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Cfra Research upgraded shares of State Street from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, July 15th. Finally, Bank of America boosted their target price on shares of State Street from $106.00 to $109.00 and gave the company an "underperform" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $112.00.

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.