11,996 Shares in State Street Corporation $STT Acquired by Coppell Advisory Solutions LLC

Coppell Advisory Solutions LLC bought a new position in State Street Corporation (NYSE:STT) in the second quarter, HoldingsChannel.com reports. The fund bought 11,996 shares of the asset manager’s stock, valued at approximately $2,035,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Philadelphia Investment Partners LLC bought a new position in shares of State Street during the 2nd quarter valued at $26,000. Bell Investment Advisors Inc bought a new stake in shares of State Street in the second quarter worth $28,000. Elevation Wealth Partners LLC increased its position in State Street by 153.6% during the second quarter. Elevation Wealth Partners LLC now owns 175 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 106 shares during the last quarter. Keating Financial Advisory Services Inc. purchased a new stake in State Street during the second quarter valued at $33,000. Finally, Kelleher Financial Advisors bought a new position in State Street in the second quarter valued at about $33,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STT has been the topic of several research reports. Keefe, Bruyette & Woods raised their target price on State Street from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. UBS Group set a $176.00 price objective on shares of State Street in a research note on Friday, June 26th. Royal Bank Of Canada raised their price objective on shares of State Street from $155.00 to $196.00 and gave the stock a “sector perform” rating in a report on Friday, July 17th. Evercore set a $200.00 target price on shares of State Street in a research report on Monday, July 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of State Street from $176.50 to $187.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, State Street currently has an average rating of “Moderate Buy” and a consensus price target of $185.38.

Insiders Place Their Bets

In other news, CEO Hanley Ronald P. O sold 14,553 shares of State Street stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $184.17, for a total value of $2,680,226.01. Following 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Bradford Hu sold 9,758 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $184.52, for a total value of $1,800,546.16. Following the completion of the sale, the executive vice president owned 49,794 shares in the company, valued at $9,187,988.88. This represents a 16.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,811 shares of company stock worth $4,723,982 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

State Street Trading Up 1.2%

Shares of STT opened at $190.13 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.59 and a quick ratio of 0.59. State Street Corporation has a 1 year low of $104.64 and a 1 year high of $195.93. The company has a 50 day simple moving average of $183.51 and a two-hundred day simple moving average of $157.36. The firm has a market cap of $52.23 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 0.89 and a beta of 1.41.

State Street (NYSE:STT) last released its earnings results on Thursday, July 16th. The asset manager reported $3.65 EPS for the quarter, topping the consensus estimate of $3.34 by $0.31. State Street had a net margin of 15.02% and a return on equity of 15.26%. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the previous year, the firm earned $2.04 earnings per share. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, equities analysts expect that State Street Corporation will post 13.75 earnings per share for the current fiscal 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 represents a $3.68 dividend on an annualized basis and a yield of 1.9%. This is an increase from State Street’s previous quarterly dividend of $0.84. State Street’s payout ratio is presently 29.63%.

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.