Valeo Financial Advisors LLC Purchases Shares of 3,138 State Street Corporation (NYSE:STT)

Valeo Financial Advisors LLC bought a new position in shares of State Street Corporation (NYSE:STT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,138 shares of the asset manager's stock, valued at approximately $281,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Pacific Financial acquired a new position in State Street during the first quarter worth $25,000. Coppell Advisory Solutions LLC boosted its holdings in State Street by 2,942.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock worth $42,000 after acquiring an additional 412 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings 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 buying an additional 310 shares during the last quarter. MV Capital Management Inc. increased its position in shares of State Street by 98.4% during the first quarter. MV Capital Management Inc. now owns 506 shares of the asset manager's stock valued at $45,000 after buying an additional 251 shares during the period. Finally, Loomis Sayles & Co. L P grew its position in State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after acquiring an additional 311 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Truist Financial boosted their price target on State Street from $112.00 to $122.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Cfra Research lowered State Street from a "moderate buy" rating to a "hold" rating in a report on Thursday, May 29th. Wells Fargo & Company lifted their price objective on State Street from $113.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Morgan Stanley lifted their price target on State Street from $110.00 to $114.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Finally, Citigroup boosted their target price on State Street from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $109.92.

Insider Activity at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total transaction of $117,936.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

State Street Stock Performance

Shares of NYSE STT traded up $0.42 during trading hours on Monday, hitting $109.98. 2,510,001 shares of the company's stock were exchanged, compared to its average volume of 2,109,936. The stock has a market capitalization of $31.37 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.25 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 company's 50-day moving average price is $99.86 and its 200-day moving average price is $94.91. State Street Corporation has a 1-year low of $72.81 and a 1-year high of $110.97.

State Street (NYSE:STT - Get Free Report) last posted its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.06. The firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.30 billion. State Street had a net margin of 12.85% and a return on equity of 12.79%. During the same quarter in the previous year, the firm posted $1.69 earnings per share. On average, sell-side analysts expect that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were issued a $0.76 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $3.04 annualized dividend and a dividend yield of 2.76%. State Street's payout ratio is currently 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.