State Street Corporation $STT Shares Bought by Czech National Bank

Key Points

• The Czech National Bank increased its holdings in State Street Corporation by 5.2%, now owning a total of 69,708 shares valued at approximately $7.41 million.
• State Street recently reported earnings per share of $2.53 for the last quarter, exceeding expectations and showing a year-over-year revenue increase of 2.9%.
• The company announced a quarterly dividend increase to $0.84, reflecting an annual yield of 3.0%, with the next payment scheduled for October 14th.

Czech National Bank raised its position in shares of State Street Corporation (NYSE:STT - Free Report) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,708 shares of the asset manager's stock after purchasing an additional 3,452 shares during the period. Czech National Bank's holdings in State Street were worth $7,413,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Meeder Advisory Services Inc. boosted its stake in shares of State Street by 2.0% in the first quarter. Meeder Advisory Services Inc. now owns 5,756 shares of the asset manager's stock worth $515,000 after buying an additional 114 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in State Street by 2.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,414 shares of the asset manager's stock worth $395,000 after purchasing an additional 118 shares during the period. Larson Financial Group LLC raised its holdings in 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 period. Smartleaf Asset Management LLC raised its holdings in State Street by 5.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,257 shares of the asset manager's stock worth $201,000 after purchasing an additional 126 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in State Street by 13.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,157 shares of the asset manager's stock worth $104,000 after purchasing an additional 134 shares during the period. 87.44% of the stock is owned by institutional investors.

State Street Trading Up 0.1%

State Street stock traded up $0.17 during mid-day trading on Friday, hitting $113.39. The company's stock had a trading volume of 3,268,706 shares, compared to its average volume of 2,048,354. The firm has a market capitalization of $32.17 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 1.09 and a beta of 1.50. State Street Corporation has a 1 year low of $72.81 and a 1 year high of $116.37. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.09. The stock's fifty day moving average is $111.52 and its two-hundred day moving average is $99.37.

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

State Street Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Wednesday, October 1st will be given a $0.84 dividend. This is a boost from State Street's previous quarterly dividend of $0.76. The ex-dividend date is Wednesday, October 1st. This represents a $3.36 annualized dividend and a yield of 3.0%. State Street's payout ratio is presently 37.63%.

Insider Transactions at State Street

In related news, EVP Michael L. Richards sold 990 shares of the business'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 transaction, the executive vice president owned 41,332 shares in the company, valued at $4,517,174.28. The trade was a 2.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Truist Financial increased their target price on State Street from $116.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Evercore ISI increased their target price on State Street from $102.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Morgan Stanley upped their price target on State Street from $110.00 to $114.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Wells Fargo & Company upped their price target on State Street from $113.00 to $121.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Citigroup upgraded State Street from a "neutral" rating to a "buy" rating and upped their price target for the company from $115.00 to $130.00 in a research report on Friday, September 5th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $114.18.

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.