Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $3.09 Million Position in State Street Corporation $STT

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in State Street Corporation (NYSE:STT) by 25.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,918 shares of the asset manager’s stock after acquiring an additional 5,440 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in State Street were worth $3,085,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Brighton Jones LLC bought a new position in State Street in the 4th quarter valued at about $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of State Street by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock worth $2,885,000 after buying an additional 918 shares during the last quarter. NewEdge Advisors LLC grew its position in State Street by 105.2% in the first quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock valued at $913,000 after acquiring an additional 5,226 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of State Street by 220.1% in the first quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock worth $2,065,000 after acquiring an additional 15,996 shares during the last quarter. Finally, Woodline Partners LP boosted its stake in shares of State Street by 38.4% in the 1st quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock valued at $2,182,000 after purchasing an additional 6,767 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on STT shares. Keefe, Bruyette & Woods raised their target price on shares of State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Truist Financial reaffirmed a “hold” rating and issued a $138.00 target price (up previously from $131.00) on shares of State Street in a report on Wednesday, January 7th. Loop Capital set a $144.00 price target on State Street in a research note on Tuesday, January 6th. Citigroup raised their price objective on shares of State Street from $136.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, December 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $168.00 price target on shares of State Street in a research note on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.77.

Insiders Place Their Bets

In other State Street news, EVP Michael L. Richards sold 1,500 shares of State Street stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $117.24, for a total transaction of $175,860.00. Following the transaction, the executive vice president owned 38,626 shares of the company’s stock, valued at $4,528,512.24. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

State Street Stock Performance

NYSE STT opened at $132.45 on Monday. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $134.67. The company has a market cap of $36.99 billion, a P/E ratio of 14.02, a PEG ratio of 0.89 and a beta of 1.43. The company has a fifty day simple moving average of $123.68 and a 200 day simple moving average of $116.34. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last posted its earnings results on Friday, October 17th. The asset manager reported $2.78 EPS for the quarter, topping the consensus estimate of $2.57 by $0.21. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.43 billion. State Street had a net margin of 13.14% and a return on equity of 13.37%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.26 earnings per share. Sell-side analysts predict that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Friday, January 2nd will be issued a $0.84 dividend. The ex-dividend date is Friday, January 2nd. This represents a $3.36 annualized dividend and a dividend yield of 2.5%. State Street’s dividend payout ratio is currently 35.56%.

State Street Profile

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.