State Street Corporation $STT Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon trimmed its State Street stake by 2.4% in the first quarter, while several other institutional investors also made new or adjusted positions. Institutional ownership remains very high at 87.44%.
• State Street reported a strong quarterly beat, posting $3.65 EPS on $4.05 billion in revenue versus expectations of $3.34 EPS and $3.88 billion in sales. Revenue rose 23.3% year over year, and the company raised its quarterly dividend to $0.92 per share from $0.84.
• Analysts turned more bullish after the results, with several firms raising price targets, including KBW and Wells Fargo to $215 and RBC to $196. The consensus rating is now Moderate Buy with an average target of $183.84.

Bank of New York Mellon Corp reduced its holdings in State Street Corporation (NYSE:STT - Free Report) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,846,047 shares of the asset manager's stock after selling 44,532 shares during the period. Bank of New York Mellon Corp owned about 0.67% of State Street worth $233,636,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in STT. Wilkerson Advisory Group LLC purchased a new position in shares of State Street during the fourth quarter worth $29,000. JPL Wealth Management LLC purchased a new stake in State Street in the third quarter valued at $29,000. Phillip James Consulting Co. purchased a new stake in State Street in the fourth quarter valued at $30,000. Whipplewood Advisors LLC acquired a new stake in State Street during the 1st quarter worth about $34,000. Finally, Reflection Asset Management acquired a new stake in State Street during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 87.44% of the company's stock.

Insider Activity

In other news, 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 in the company, valued at $6,697,600.58. This trade represents a 6.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mostapha Tahiri sold 9,611 shares of State Street 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 in the company, valued at approximately $9,885,701.06. The trade was a 12.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 37,876 shares of company stock valued at $5,866,583. Company insiders own 0.27% of the company's stock.

State Street Stock Down 1.8%

Shares of STT opened at $182.27 on Friday. State Street Corporation has a 52-week low of $104.64 and a 52-week high of $192.51. The company has a market capitalization of $50.45 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 0.94 and a beta of 1.42. The stock has a fifty day simple moving average of $165.83 and a two-hundred day simple moving average of $144.10. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The asset manager reported $3.65 EPS for the quarter, topping the consensus estimate of $3.34 by $0.31. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.88 billion. State Street had a return on equity of 15.26% and a net margin of 15.02%.The company's quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.04 EPS. As a group, equities analysts forecast that State Street Corporation will post 13.35 EPS for the current year.

State Street Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.0%. 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. State Street's payout ratio is presently 32.45%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays boosted their price objective on State Street from $165.00 to $200.00 and gave the company an "equal weight" rating in a report on Friday. Royal Bank Of Canada raised their target price on State Street from $155.00 to $196.00 and gave the stock a "sector perform" rating in a report on Friday. JPMorgan Chase & Co. lifted their price target on State Street from $158.50 to $176.50 and gave the company a "neutral" rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods upped their price target on State Street from $195.00 to $215.00 and gave the stock an "outperform" rating in a report on Friday. Finally, The Goldman Sachs Group upped their price objective on shares of State Street from $168.00 to $194.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, State Street presently has a consensus rating of "Moderate Buy" and a consensus price target of $183.84.

More State Street News

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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