Themes Management Co LLC Makes New Investment in State Street Corporation $STT

Key Points

• Themes Management Co LLC opened a new position in State Street during the fourth quarter, buying 7,530 shares valued at about $965,000.
• Wall Street sentiment on State Street remains constructive, with several analysts raising price targets; the stock currently carries a Moderate Buy consensus and an average target price of $155.77.
• State Street reported better-than-expected Q1 results, with EPS of $2.84 topping estimates and revenue of $3.80 billion, while also announcing a quarterly dividend of $0.84 per share.

Themes Management Co LLC bought a new stake in State Street Corporation (NYSE:STT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,530 shares of the asset manager's stock, valued at approximately $965,000.

Other institutional investors also recently modified their holdings of the company. Regents of The University of California acquired a new position in State Street in the third quarter valued at about $324,576,000. Jones Financial Companies Lllp grew its position in shares of State Street by 11.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 208,600 shares of the asset manager's stock worth $24,139,000 after buying an additional 21,810 shares during the period. Machina Capital S.A.S. acquired a new position in shares of State Street during the 3rd quarter worth about $2,622,000. AE Wealth Management LLC bought a new stake in shares of State Street in the 3rd quarter valued at about $6,611,000. Finally, Impax Asset Management Group plc raised its position in shares of State Street by 49.2% in the 3rd quarter. Impax Asset Management Group plc now owns 127,984 shares of the asset manager's stock valued at $14,847,000 after acquiring an additional 42,198 shares during the period. Institutional investors and hedge funds own 87.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of State Street from $155.00 to $166.00 and gave the stock an "overweight" rating in a research note on Monday, April 20th. JPMorgan Chase & Co. increased their target price on shares of State Street from $137.50 to $158.50 and gave the stock a "neutral" rating in a report on Monday, May 11th. Weiss Ratings reissued a "buy (b)" rating on shares of State Street in a research report on Monday, April 20th. The Goldman Sachs Group boosted their price target on shares of State Street from $152.00 to $168.00 and gave the company a "buy" rating in a report on Monday, April 20th. Finally, Evercore set a $158.00 price objective on shares of State Street and gave the company an "outperform" rating in a research report on Monday, April 20th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, State Street presently has an average rating of "Moderate Buy" and a consensus target price of $155.77.

Insider Buying and Selling at State Street

In related news, COO Mostapha Tahiri sold 9,611 shares of the stock in a transaction dated Wednesday, April 22nd. The stock was 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 directly owned 64,642 shares in the company, valued at approximately $9,885,701.06. This trade represents a 12.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Plansky sold 16,100 shares of State Street stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total value of $2,001,552.00. Following the completion of the sale, the executive vice president directly owned 56,162 shares in the company, valued at approximately $6,982,059.84. This represents a 22.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,711 shares of company stock valued at $3,933,032 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

State Street Stock Performance

Shares of STT opened at $153.96 on Tuesday. The firm has a market cap of $42.61 billion, a P/E ratio of 15.61, a PEG ratio of 0.84 and a beta of 1.45. State Street Corporation has a twelve month low of $94.19 and a twelve month high of $156.18. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57. The firm's 50 day moving average price is $140.38 and its two-hundred day moving average price is $131.20.

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 (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.20. State Street had a net margin of 13.47% and a return on equity of 14.22%. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the firm earned $2.04 earnings per share. The firm's revenue was up 15.6% compared to the same quarter last year. On average, analysts forecast that State Street Corporation will post 12.35 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, July 1st. State Street's dividend payout ratio is 34.08%.

State Street 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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