National Pension Service Cuts Stock Holdings in State Street Corporation $STT

National Pension Service reduced its stake in shares of State Street Corporation (NYSE:STT) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 519,939 shares of the asset manager’s stock after selling 4,005 shares during the quarter. National Pension Service owned 0.19% of State Street worth $88,182,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Engineers Gate Manager LP lifted its stake in shares of State Street by 1,213.4% in the 2nd quarter. Engineers Gate Manager LP now owns 135,388 shares of the asset manager’s stock valued at $22,962,000 after acquiring an additional 125,080 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its position in State Street by 12.3% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,427 shares of the asset manager’s stock worth $412,000 after acquiring an additional 266 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in State Street by 1.7% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 12,526 shares of the asset manager’s stock worth $2,124,000 after purchasing an additional 210 shares during the period. Baird Financial Group Inc. increased its stake in State Street by 8.7% in the 2nd quarter. Baird Financial Group Inc. now owns 14,562 shares of the asset manager’s stock worth $2,470,000 after purchasing an additional 1,171 shares during the period. Finally, Arizona State Retirement System increased its stake in State Street by 5.3% in the 2nd quarter. Arizona State Retirement System now owns 79,915 shares of the asset manager’s stock worth $13,554,000 after purchasing an additional 3,996 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Up 1.1%

Shares of State Street stock opened at $193.37 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. State Street Corporation has a 12-month low of $104.64 and a 12-month high of $195.93. The company has a market cap of $53.12 billion, a P/E ratio of 17.05, a PEG ratio of 0.91 and a beta of 1.41. The company’s fifty day simple moving average is $186.78 and its two-hundred day simple moving average is $160.33.

State Street (NYSE:STT) last posted 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. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the company posted $2.04 EPS. Research analysts anticipate that State Street Corporation will post 13.76 EPS for the current year.

State Street Increases Dividend

The business also recently disclosed 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. This represents a $3.68 annualized dividend and a yield of 1.9%. This is a boost from State Street’s previous quarterly dividend of $0.84. The ex-dividend date is Thursday, October 1st. State Street’s dividend payout ratio (DPR) is 32.45%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Evercore set a $200.00 price objective on State Street in a research note on Monday, July 20th. The Goldman Sachs Group lifted their target price on shares of State Street from $168.00 to $194.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Bank of America upped 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 price target on shares of State Street in a research report on Friday, June 26th. Finally, Citigroup raised their price target on shares of State Street from $193.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Two investment 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $185.38.

Key State Street News

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

Insider Activity at State Street

In other news, EVP W. Hu sold 9,758 shares of the stock in a transaction that occurred on 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 transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. 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 on 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 completion of the transaction, the chief executive officer owned 240,959 shares of the company’s stock, valued at approximately $44,377,419.03. This trade represents a 5.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.27% of the company’s stock.

About State Street

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.