OP Asset Management Ltd Invests $3.61 Million in State Street Corporation $STT

Key Points

• OP Asset Management opened a new position in State Street, buying 28,490 shares worth about $3.61 million in the first quarter.
• State Street continues to attract major institutional interest, with 87.44% of the stock owned by institutions and hedge funds. Several large investors significantly increased or initiated positions in recent quarters.
• The company posted better-than-expected Q1 earnings of $2.84 per share on revenue of $3.80 billion, and it recently declared a quarterly dividend of $0.84 per share, yielding about 2.0%.

OP Asset Management Ltd acquired 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. The institutional investor acquired 28,490 shares of the asset manager's stock, valued at approximately $3,606,000.

Several other large investors have also bought and sold shares of the business. Regents of The University of California lifted its holdings in shares of 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 acquiring an additional 5,908,370 shares during the last quarter. Norges Bank acquired a new stake in shares of State Street in the 4th quarter valued at approximately $303,483,000. Pinebridge Investments LLC bought a new stake in shares of State Street during the 4th quarter valued at approximately $178,705,000. Victory Capital Management Inc. increased its position in State Street by 30.8% during the 4th 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 in the last quarter. Finally, Two Sigma Investments LP lifted its stake in State Street by 261.0% in the 3rd quarter. Two Sigma Investments LP now owns 1,217,802 shares of the asset manager's stock valued at $141,277,000 after purchasing an additional 880,507 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP W. Bradford Hu sold 9,212 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total value of $1,431,084.20. Following the sale, the executive vice president directly owned 59,552 shares in the company, valued at $9,251,403.20. This represents a 13.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mostapha Tahiri sold 9,611 shares of the 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 sale, the chief operating officer directly owned 64,642 shares of the company's stock, valued at $9,885,701.06. This represents a 12.94% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 37,876 shares of company stock worth $5,866,583. Corporate insiders own 0.27% of the company's stock.

State Street Price Performance

Shares of NYSE:STT opened at $168.44 on Friday. The firm has a market cap of $46.62 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 0.93 and a beta of 1.43. The firm's fifty day moving average is $157.67 and its 200-day moving average is $139.01. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57. State Street Corporation has a 52 week low of $101.98 and a 52 week high of $175.46.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.20. The company had revenue of $3.80 billion for the quarter, compared to analysts' expectations of $3.59 billion. State Street had a net margin of 13.47% and a return on equity of 14.22%. State Street's revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.04 earnings per share. Sell-side analysts predict that State Street Corporation will post 12.35 earnings per share for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, July 1st. State Street's payout ratio is 34.08%.

State Street News Summary

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

• Positive Sentiment: State Street plans to increase its quarterly dividend by 10% after passing the 2026 stress test, reinforcing its capital strength and shareholder-return story. STT Announces Plan for 10% Dividend Hike Post 2026 Stress Test Results
• Positive Sentiment: Truist Financial raised its price target on State Street to $176 from $150, implying continued upside potential even while keeping a hold rating. State Street price target raised by Truist Financial Corporation
• Positive Sentiment: Wall Street expectations for State Street’s upcoming Q2 earnings point to another double-digit EPS increase, which could support sentiment if results confirm the trend. State Street Corporation's Q2 2026 Earnings: What to Expect
• Neutral Sentiment: Barclays kept a hold rating on State Street, and another analyst update also suggests investors remain constructive but not aggressively bullish at current levels. Barclays Remains a Hold on State Street (STT)
• Neutral Sentiment: Commentary on State Street’s 65% annual stock gain and current valuation suggests investors are debating whether the rally has already priced in a lot of good news. State Street (STT) Stock After 65% Year Gain Are Recent Valuation Signals Justified

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of State Street from $157.00 to $175.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Zacks Research downgraded State Street from a "strong-buy" rating to a "hold" rating in a report on Monday, June 22nd. Argus boosted their price objective on State Street from $140.00 to $168.00 and gave the stock a "buy" rating in a research report on Tuesday, April 21st. Wells Fargo & Company upped their target price on State Street from $171.00 to $196.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Citigroup increased their target price on State Street from $172.00 to $193.00 and gave the company a "buy" rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, State Street presently has an average rating of "Moderate Buy" and a consensus price target of $164.16.

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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