Meeder Asset Management Inc. Trims Stock Holdings in State Street Corporation $STT

Key Points

• Meeder Asset Management cut its State Street stake by 63.6% in the first quarter, selling 121,927 shares and leaving it with 69,868 shares worth about $8.84 million.
• State Street recently posted a strong quarter, with EPS of $3.65 and revenue of $4.05 billion, both above analyst expectations, while quarterly revenue jumped 23.3% year over year.
• The company also raised its quarterly dividend to $0.92 per share from $0.84, and analysts remain generally constructive with a Moderate Buy consensus and an average price target of $183.84.

Meeder Asset Management Inc. reduced its holdings in shares of State Street Corporation (NYSE:STT - Free Report) by 63.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 69,868 shares of the asset manager's stock after selling 121,927 shares during the period. Meeder Asset Management Inc.'s holdings in State Street were worth $8,842,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Regents of The University of California increased its stake in State Street by 211.2% in the fourth quarter. Regents of The University of California now owns 8,706,195 shares of the asset manager's stock worth $1,123,186,000 after purchasing an additional 5,908,370 shares during the period. Morgan Stanley boosted its stake 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 during the period. Victory Capital Management Inc. grew its holdings in shares of 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 last quarter. Franklin Resources Inc. grew its holdings in shares of 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 last quarter. Finally, First Trust Advisors LP increased its stake in State Street by 30.4% in the 4th quarter. First Trust Advisors LP now owns 3,582,977 shares of the asset manager's stock worth $462,240,000 after buying an additional 835,331 shares during the period. Hedge funds and other institutional investors own 87.44% of the company's stock.

State Street Stock Performance

STT stock opened at $182.27 on Monday. State Street Corporation has a 1-year low of $104.64 and a 1-year high of $192.51. The business has a 50-day moving average price of $165.83 and a 200 day moving average price of $144.18. The company has a market capitalization of $50.45 billion, a P/E ratio of 16.07, a PEG ratio of 0.90 and a beta of 1.42. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.59 and a quick ratio of 0.57.

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. The company had revenue of $4.05 billion for 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 quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.04 EPS. As a group, equities research analysts forecast that State Street Corporation will post 13.35 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 given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, October 1st. This is an increase from State Street's previous quarterly dividend of $0.84. State Street's payout ratio is presently 29.63%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on STT. Argus lifted their price objective on shares of State Street from $140.00 to $168.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. raised their target price on shares of State Street from $158.50 to $176.50 and gave the stock a "neutral" rating in a research report on Monday, July 6th. Bank of America lifted their price target on shares of State Street from $160.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday, July 7th. Citigroup boosted their price target on State Street from $193.00 to $210.00 and gave the company a "buy" rating in a report on Friday. Finally, Zacks Research cut State Street from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $183.84.

Insider Activity

In related news, COO Mostapha Tahiri sold 9,611 shares of the business's stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $152.93, for a total transaction of $1,469,810.23. Following the completion of the transaction, the chief operating officer owned 64,642 shares in the company, valued at $9,885,701.06. The trade was a 12.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael L. Richards sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the sale, the executive vice president owned 43,522 shares of the company's stock, valued at approximately $6,697,600.58. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 37,876 shares of company stock worth $5,866,583. Insiders own 0.27% of the company's stock.

Trending Headlines about State Street

Here are the key news stories impacting State Street this week:

• Positive Sentiment: State Street delivered a Q2 earnings beat, reporting $3.65 EPS on $4.05 billion in revenue versus expectations of $3.34 EPS and $3.88 billion in sales, supported by higher fee income, stronger net interest income, and no credit-loss provision. State Street Corporation NYSE: STT Reports Second-Quarter 2026 Financial Results
• Positive Sentiment: Management’s update showed strong operating momentum, with assets under custody and management reaching record levels and revenue growth accelerating sharply year over year, reinforcing confidence in the company’s earnings power. State Street's quarterly profit jumps 56% on strong fee income
• Positive Sentiment: Several analysts turned more constructive after the results, including KBW and Wells Fargo, both lifting their price targets to $215, while RBC raised its target to $196, signaling expectations for additional upside. These Analysts Raise Their Forecasts On State Street Following Upbeat Q2 Results
• Neutral Sentiment: Truist reaffirmed its hold rating but still increased its target to $191, suggesting the earnings strength improved valuation expectations even without a bullish rating change. Benzinga analyst update on State Street
• Neutral Sentiment: Commentary on digital custody, ETF pricing pressure, and macro-driven operating leverage adds context, but the immediate stock move appears to be driven mainly by the earnings beat and analyst upgrades. State Street Q2: Macro Conditions Continue To Drive Healthy Operating Leverage

State Street Company 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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