State Street Corporation (NYSE:STT) Shares Purchased by IFM Investors Pty Ltd

IFM Investors Pty Ltd lifted its stake in shares of State Street Corporation (NYSE:STT - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,427 shares of the asset manager's stock after acquiring an additional 5,993 shares during the period. IFM Investors Pty Ltd's holdings in State Street were worth $5,788,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in State Street by 3.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager's stock valued at $44,725,000 after buying an additional 14,476 shares during the period. Stonegate Investment Group LLC purchased a new stake in State Street in the 1st quarter valued at about $487,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in State Street by 6.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 749,885 shares of the asset manager's stock valued at $67,137,000 after buying an additional 48,668 shares during the period. Miller Howard Investments Inc. NY purchased a new stake in State Street in the 1st quarter valued at about $42,504,000. Finally, Bank of Montreal Can raised its holdings in State Street by 54.6% in the 4th quarter. Bank of Montreal Can now owns 720,909 shares of the asset manager's stock valued at $70,757,000 after buying an additional 254,510 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Stock Down 0.4%

Shares of State Street stock traded down $0.42 on Monday, reaching $109.89. 368,281 shares of the company were exchanged, compared to its average volume of 2,106,902. State Street Corporation has a 1-year low of $72.65 and a 1-year high of $110.97. The company has a market cap of $31.34 billion, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 1.28 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 stock's 50 day moving average price is $97.77 and its 200-day moving average price is $94.54.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.06. State Street had a return on equity of 12.79% and a net margin of 12.85%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same period in the previous year, the company posted $1.69 earnings per share. As a group, equities analysts forecast that State Street Corporation will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Tuesday, July 1st. State Street's dividend payout ratio is presently 34.12%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Cfra Research lowered shares of State Street from a "moderate buy" rating to a "hold" rating in a report on Thursday, May 29th. Morgan Stanley boosted 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. Barclays cut their price target on shares of State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Citigroup boosted their price target on shares of State Street from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Truist Financial boosted their price target on shares of State Street from $112.00 to $122.00 and gave the stock a "buy" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $106.46.

Insider Activity at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the transaction, the chief accounting officer directly owned 7,354 shares of the company's stock, valued at approximately $667,154.88. The trade was a 15.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company's stock.

State Street Company 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.