5,499 Shares in State Street Corporation $STT Acquired by Roberts Glore & Co. Inc. IL

Roberts Glore & Co. Inc. IL bought a new stake in shares of State Street Corporation (NYSE:STT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,499 shares of the asset manager’s stock, valued at approximately $933,000.

Other large investors have also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc acquired a new position in State Street in the second quarter worth approximately $28,000. Wilkerson Advisory Group LLC acquired a new stake in shares of State Street during the 4th quarter valued at $29,000. JPL Wealth Management LLC acquired a new stake in shares of State Street during the 3rd quarter valued at $29,000. Phillip James Consulting Co. bought a new stake in shares of State Street during the 4th quarter worth $30,000. Finally, Elevation Wealth Partners LLC grew its holdings in shares of State Street by 153.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 175 shares of the asset manager’s stock worth $30,000 after acquiring an additional 106 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

STT has been the topic of a number of recent analyst reports. Morgan Stanley boosted their target price on State Street from $183.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Wells Fargo & Company increased their price target on State Street from $196.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Barclays lifted their price target on State Street from $165.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Royal Bank Of Canada boosted their price objective on State Street from $155.00 to $196.00 and gave the stock a “sector perform” rating in a report on Friday, July 17th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of State Street from $195.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $185.38.

State Street Price Performance

Shares of NYSE:STT opened at $193.12 on Wednesday. The company’s fifty day moving average is $181.03 and its two-hundred day moving average is $154.80. The company has a market cap of $53.05 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 0.79 and a beta of 1.41. State Street Corporation has a 12-month low of $104.64 and a 12-month high of $195.18. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last issued 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 return on equity of 15.26% and a net margin of 15.02%.The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter last year, the firm posted $2.04 earnings per share. State Street’s revenue was up 23.3% compared to the same quarter last year. Equities analysts expect that State Street Corporation will post 13.75 earnings per share for the current fiscal year.

State Street Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Thursday, October 1st will be paid a $0.92 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $3.68 annualized dividend and a yield of 1.9%. This is an increase from State Street’s previous quarterly dividend of $0.84. State Street’s dividend payout ratio (DPR) is currently 29.63%.

Insider Buying and Selling

In other news, CEO Hanley Ronald P. O sold 14,553 shares of the company’s 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael L. Richards sold 1,500 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $162.14, for a total transaction of $243,210.00. Following the completion of the sale, the executive vice president directly owned 41,827 shares of the company’s stock, valued at $6,781,829.78. This trade represents a 3.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 25,811 shares of company stock valued at $4,723,982. Corporate insiders own 0.27% of the company’s stock.

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.