WINTON GROUP Ltd Sells 20,757 Shares of State Street Corporation $STT

Key Points

• WINTON GROUP Ltd reduced its State Street stake by 78.2% in the second quarter, selling 20,757 shares and retaining 5,800 shares worth approximately $984,000. Institutional investors still own 87.44% of the company.
• State Street reported strong quarterly results, with EPS of $3.65 and revenue of $4.05 billion, beating analyst expectations and increasing 23.3% year over year. The company also raised its quarterly dividend to $0.92 per share, implying a 1.9% annual yield.
• Shares opened at $193.37, near their 52-week high of $195.93, while analysts maintain a “Moderate Buy” consensus and an average price target of $185.38. CEO and executive vice president stock sales were conducted under pre-arranged Rule 10b5-1 plans.

WINTON GROUP Ltd cut its holdings in shares of State Street Corporation (NYSE:STT - Free Report) by 78.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,800 shares of the asset manager's stock after selling 20,757 shares during the quarter. WINTON GROUP Ltd's holdings in State Street were worth $984,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. California State Teachers Retirement System raised its position in shares of State Street by 16,194.0% in the second quarter. California State Teachers Retirement System now owns 76,843,386 shares of the asset manager's stock valued at $13,032,638,000 after purchasing an additional 76,371,782 shares during the period. BlackRock Inc. acquired a new stake in shares of State Street during the 2nd quarter worth about $4,139,389,000. Regents of The University of California boosted its holdings in shares of State Street by 211.2% during the 4th quarter. Regents of The University of California now owns 8,706,195 shares of the asset manager's stock worth $1,123,186,000 after buying an additional 5,908,370 shares during the period. Norges Bank bought a new stake in shares of State Street during the 4th quarter worth about $303,483,000. Finally, Legal & General Group Plc acquired a new position in State Street in the 2nd quarter valued at about $330,849,000. Institutional investors own 87.44% of the company's stock.

Insider Transactions at State Street

In other news, EVP W. Hu sold 9,758 shares of the company's stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $184.52, for a total transaction of $1,800,546.16. Following the completion of the sale, the executive vice president owned 49,794 shares of the company's stock, valued at approximately $9,187,988.88. This represents a 16.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hanley Ronald P. O sold 14,553 shares of the stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $184.17, for a total transaction of $2,680,226.01. Following the sale, the chief executive officer owned 240,959 shares in the company, valued at $44,377,419.03. This represents a 5.70% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.27% of the company's stock.

Key Headlines Impacting State Street

Here are the key news stories impacting State Street this week:

• Positive Sentiment: An analysis argues that State Street’s preferred shares offer an approximately 6.8% dividend yield, which could appeal to income-focused investors and highlight the company’s ability to support attractive capital returns. The article primarily concerns preferred securities, so the direct effect on STT common shares may be limited. State Street: 6.8% Preferred Dividend Yield Is Too Good To Ignore
• Positive Sentiment: State Street appointed Tim Helyar to lead its Asia-Pacific business effective September 10. The leadership change may support the company’s regional growth strategy in asset servicing and investment management, though no immediate financial impact was disclosed. State Street Corporation Announces Appointment of Tim Helyar to Head of Asia Pacific
• Neutral Sentiment: State Street and affiliated asset-management entities reported that their holdings fell below substantial-holder thresholds in IDP Education, Inghams Group, Sims, Breville Group, Greatland Resources, Amotiv, Austal, Elsight, Service Stream, and Smartgroup. These notices may reflect routine portfolio rebalancing, index changes, or client-driven trading; they do not necessarily represent a negative view of State Street or materially affect its earnings. State Street Ownership Disclosures
• Negative Sentiment: Harbor Mid Cap Value Fund trimmed its State Street position following the stock’s appreciation. The sale could create modest near-term supply and signals that at least one investor is taking profits, although it does not indicate a change in State Street’s fundamentals. Harbor Mid Cap Value Fund Trimmed State Street Following Appreciation

State Street Price Performance

State Street stock opened at $193.37 on Monday. The firm has a market cap of $53.12 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 0.92 and a beta of 1.41. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.59 and a quick ratio of 0.59. The stock's fifty day moving average price is $186.78 and its two-hundred day moving average price is $160.58. State Street Corporation has a one year low of $104.64 and a one year high of $195.93.

State Street (NYSE:STT - Get Free Report) last released its earnings results on Thursday, July 16th. The asset manager reported $3.65 earnings per share for the quarter, beating analysts' consensus estimates of $3.34 by $0.31. State Street had a return on equity of 15.26% and a net margin of 15.02%.The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same period in the prior year, the company posted $2.04 EPS. The company's revenue was up 23.3% compared to the same quarter last year. As a group, research analysts expect that State Street Corporation will post 13.76 EPS for the current fiscal year.

State Street Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Thursday, October 1st. This is a positive change from State Street's previous quarterly dividend of $0.84. This represents a $3.68 dividend on an annualized basis and a yield of 1.9%. State Street's dividend payout ratio is currently 29.63%.

Analysts Set New Price Targets

STT has been the topic of several research analyst reports. Bank of America increased their price target on shares of State Street from $160.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, July 7th. UBS Group set a $176.00 target price on State Street in a research report on Friday, June 26th. JPMorgan Chase & Co. upped their target price on State Street from $176.50 to $187.00 and gave the company a "neutral" rating in a research report on Tuesday, August 4th. Truist Financial reissued a "hold" rating and set a $191.00 price target (up from $176.00) on shares of State Street in a report on Friday, July 17th. Finally, Zacks Research upgraded State Street from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, State Street presently has a consensus rating of "Moderate Buy" and a consensus target price of $185.38.

State Street Profile

State Street Corporation is a financial services company headquartered in Boston, Massachusetts. Founded in 1792, it serves institutional investors, asset managers, asset owners, insurance companies, official institutions and other financial organizations worldwide.

Through its investment servicing business, State Street provides custody and fund administration, accounting, transfer agency, middle-office outsourcing, collateral management, performance measurement and regulatory reporting services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.