Vanguard Personalized Indexing Management LLC Has $5.70 Million Position in State Street Corporation $STT

Vanguard Personalized Indexing Management LLC raised its stake in shares of State Street Corporation (NYSE:STT) by 21.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,590 shares of the asset manager’s stock after buying an additional 9,334 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in State Street were worth $5,699,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Invesco Ltd. boosted its stake in shares of State Street by 9.0% during the 1st quarter. Invesco Ltd. now owns 8,184,690 shares of the asset manager’s stock valued at $732,775,000 after buying an additional 674,120 shares during the period. Northern Trust Corp boosted its stake in shares of State Street by 2.8% during the 1st quarter. Northern Trust Corp now owns 4,264,161 shares of the asset manager’s stock valued at $381,770,000 after buying an additional 115,751 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of State Street by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,068,867 shares of the asset manager’s stock valued at $274,732,000 after buying an additional 14,011 shares during the period. Eastern Bank boosted its stake in shares of State Street by 6,967.4% during the 1st quarter. Eastern Bank now owns 2,989,452 shares of the asset manager’s stock valued at $267,646,000 after buying an additional 2,947,153 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of State Street by 1.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,713,415 shares of the asset manager’s stock valued at $242,932,000 after buying an additional 49,353 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity

In other news, EVP Michael L. Richards sold 990 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $109.29, for a total transaction of $108,197.10. Following the transaction, the executive vice president owned 41,332 shares in the company, valued at approximately $4,517,174.28. The trade was a 2.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

State Street Stock Performance

Shares of STT opened at $114.27 on Tuesday. The company has a market capitalization of $32.42 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. State Street Corporation has a one year low of $72.81 and a one year high of $118.24. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.57 and a quick ratio of 0.57. The company’s fifty day moving average price is $113.32 and its 200 day moving average price is $102.54.

State Street (NYSE:STT) last announced its 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. State Street had a net margin of 12.59% and a return on equity of 12.96%. The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the firm posted $2.15 EPS. The business’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, analysts expect that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Wednesday, October 1st. This is a positive change from State Street’s previous quarterly dividend of $0.76. State Street’s payout ratio is presently 37.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $162.00 price objective on shares of State Street in a research note on Monday, September 29th. BMO Capital Markets assumed coverage on shares of State Street in a research note on Friday, October 3rd. They issued an “outperform” rating and a $130.00 price objective for the company. Evercore ISI lifted their price objective on shares of State Street from $117.00 to $128.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Truist Financial lifted their price objective on shares of State Street from $125.00 to $133.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, The Goldman Sachs Group lifted their price objective on shares of State Street from $109.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.83.

State Street Profile

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.