20,000 Shares in State Street Corporation $STT Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in State Street Corporation (NYSE:STT) in the second quarter, Holdings Channel reports. The firm acquired 20,000 shares of the asset manager’s stock, valued at approximately $3,392,000.

Several other large investors have also bought and sold shares of STT. Brighton Jones LLC bought a new stake in shares of State Street in the 4th quarter valued at about $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of State Street by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock worth $2,885,000 after acquiring an additional 918 shares during the period. NewEdge Advisors LLC lifted its stake in shares of State Street by 105.2% in the first quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock worth $913,000 after acquiring an additional 5,226 shares during the period. Empowered Funds LLC boosted its holdings in State Street by 220.1% in the first quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock valued at $2,065,000 after acquiring an additional 15,996 shares during the last quarter. Finally, Woodline Partners LP boosted its holdings in State Street by 38.4% in the first quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock valued at $2,182,000 after acquiring an additional 6,767 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other State Street news, CEO Hanley Ronald P. O sold 14,553 shares of State Street stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $184.17, for a total value of $2,680,226.01. Following the completion of the sale, the chief executive officer directly owned 240,959 shares of the company’s stock, valued at approximately $44,377,419.03. The trade was a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael L. Richards sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $162.14, for a total value of $243,210.00. Following the transaction, the executive vice president directly owned 41,827 shares in the company, valued at approximately $6,781,829.78. This trade represents a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 49,576 shares of company stock worth $8,415,875. 0.27% of the stock is currently owned by company insiders.

State Street Price Performance

Shares of STT opened at $183.36 on Friday. The firm has a market cap of $50.37 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 0.76 and a beta of 1.41. State Street Corporation has a 52-week low of $104.64 and a 52-week high of $195.18. The business’s 50 day moving average price is $179.71 and its two-hundred day moving average price is $153.55. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.59.

State Street (NYSE:STT) last announced its quarterly earnings data on Thursday, July 16th. The asset manager reported $3.65 EPS for the quarter, topping the consensus estimate of $3.34 by $0.31. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.88 billion. State Street had a net margin of 15.02% and a return on equity of 15.26%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.04 EPS. On average, equities analysts anticipate that State Street Corporation will post 13.75 EPS for the current year.

State Street Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Thursday, October 1st will be issued a $0.92 dividend. 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 2.0%. State Street’s dividend payout ratio is 29.63%.

Analyst Ratings Changes

Several research analysts have issued reports on STT shares. Zacks Research upgraded shares of State Street from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Citigroup upped their price objective on shares of State Street from $193.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Morgan Stanley increased their price objective on shares of State Street from $183.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Royal Bank Of Canada boosted their target price on shares of State Street from $155.00 to $196.00 and gave the company a “sector perform” rating in a report on Friday, July 17th. Finally, Keefe, Bruyette & Woods upped their price target on shares of State Street from $195.00 to $215.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.38.

About State Street

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.