Compound Planning Inc. Sells 235 Shares of State Street Corporation $STT

Compound Planning Inc. reduced its holdings in shares of State Street Corporation (NYSE:STT) by 7.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,131 shares of the asset manager’s stock after selling 235 shares during the period. Compound Planning Inc.’s holdings in State Street were worth $280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC bought a new stake in State Street during the 4th quarter valued at $296,000. MML Investors Services LLC raised its position in State Street by 5.9% during the 4th quarter. MML Investors Services LLC now owns 11,895 shares of the asset manager’s stock valued at $1,168,000 after purchasing an additional 659 shares in the last quarter. MGO One Seven LLC bought a new stake in State Street during the 4th quarter valued at $247,000. Integrated Wealth Concepts LLC raised its position in State Street by 6.9% during the 4th quarter. Integrated Wealth Concepts LLC now owns 7,539 shares of the asset manager’s stock valued at $740,000 after purchasing an additional 488 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its position in State Street by 8.2% during the 4th quarter. Coldstream Capital Management Inc. now owns 4,883 shares of the asset manager’s stock valued at $479,000 after purchasing an additional 369 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Michael L. Richards sold 990 shares of the business’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $109.29, for a total transaction of $108,197.10. Following the transaction, the executive vice president directly owned 41,332 shares in the company, valued at $4,517,174.28. The trade was a 2.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by company insiders.

State Street Trading Down 0.7%

STT opened at $114.98 on Thursday. The firm has a market cap of $32.62 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.14 and a beta of 1.48. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.09. State Street Corporation has a 12 month low of $72.81 and a 12 month high of $116.37. The stock has a fifty day moving average price of $109.44 and a 200-day moving average price of $97.80.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $2.53 EPS for the quarter, topping the consensus estimate of $2.36 by $0.17. The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.33 billion. State Street had a return on equity of 12.96% and a net margin of 12.59%.The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.15 EPS. As a group, equities research analysts anticipate that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Wednesday, October 1st will be paid a dividend of $0.84 per share. This is a positive change from State Street’s previous quarterly dividend of $0.76. The ex-dividend date is Wednesday, October 1st. This represents a $3.36 annualized dividend and a yield of 2.9%. State Street’s dividend payout ratio (DPR) is presently 34.04%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Evercore ISI lifted their target price on State Street from $102.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Citigroup lifted their target price on State Street from $100.00 to $115.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. The Goldman Sachs Group lifted their target price on State Street from $98.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Truist Financial lifted their target price on State Street from $116.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, August 14th. Finally, Wells Fargo & Company boosted their price target on State Street from $113.00 to $121.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.82.

About State Street

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.