Valeo Financial Advisors LLC Makes New $281,000 Investment in State Street Corporation (NYSE:STT)

Valeo Financial Advisors LLC purchased a new stake in State Street Corporation (NYSE:STT - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 3,138 shares of the asset manager's stock, valued at approximately $281,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Pacific Financial purchased a new position in shares of State Street in the 1st quarter valued at $25,000. Coppell Advisory Solutions LLC boosted its position in shares of State Street by 2,942.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock worth $42,000 after purchasing an additional 412 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of State Street by 186.7% in the 1st quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager's stock worth $43,000 after purchasing an additional 310 shares in the last quarter. MV Capital Management Inc. boosted its position in shares of State Street by 98.4% in the 1st quarter. MV Capital Management Inc. now owns 506 shares of the asset manager's stock worth $45,000 after purchasing an additional 251 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after purchasing an additional 311 shares in the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on STT. Morgan Stanley raised their price objective on State Street from $110.00 to $114.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Bank of America raised their price objective on State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 2nd. Truist Financial lifted their price target on State Street from $112.00 to $122.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Evercore ISI lifted their price target on State Street from $102.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Barclays lowered their price target on State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $109.92.

Insiders Place Their Bets

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the transaction, the chief accounting officer owned 7,354 shares of the company's stock, valued at approximately $667,154.88. This represents a 15.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company's stock.

State Street Stock Performance

Shares of STT stock traded down $0.66 on Friday, hitting $109.55. The company had a trading volume of 2,668,847 shares, compared to its average volume of 2,111,794. The firm has a market cap of $31.24 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 1.26 and a beta of 1.45. The company has a 50-day moving average price of $99.48 and a 200-day moving average price of $94.90. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.07. State Street Corporation has a twelve month low of $72.81 and a twelve month high of $111.99.

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

State Street Dividend Announcement

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

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.