Strs Ohio Purchases 76,830 Shares of State Street Corporation $STT

Strs Ohio boosted its position in State Street Corporation (NYSE:STT) by 31.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 323,768 shares of the asset manager’s stock after acquiring an additional 76,830 shares during the period. Strs Ohio owned 0.11% of State Street worth $37,560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of State Street during the 4th quarter worth approximately $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in State Street by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock valued at $2,885,000 after acquiring an additional 918 shares during the last quarter. NewEdge Advisors LLC grew its holdings in State Street by 105.2% during the 1st quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock worth $913,000 after acquiring an additional 5,226 shares during the period. Empowered Funds LLC grew its holdings in State Street by 220.1% during the 1st 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 period. Finally, Woodline Partners LP raised its position in shares of State Street by 38.4% during the 1st quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock valued at $2,182,000 after acquiring an additional 6,767 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Insider Activity at State Street

In other news, EVP Michael L. Richards sold 1,500 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $117.24, for a total transaction of $175,860.00. Following the completion of the transaction, the executive vice president directly owned 38,626 shares of the company’s stock, valued at $4,528,512.24. This represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by company insiders.

State Street Stock Performance

Shares of STT stock opened at $126.10 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.61. State Street Corporation has a 52 week low of $72.81 and a 52 week high of $137.05. The company’s 50 day moving average price is $126.05 and its two-hundred day moving average price is $117.74. The company has a market capitalization of $35.22 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 1.13 and a beta of 1.43.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.15. State Street had a net margin of 13.02% and a return on equity of 13.46%. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the company earned $2.60 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, analysts expect that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Friday, January 2nd were paid a $0.84 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $3.36 annualized dividend and a dividend yield of 2.7%. State Street’s dividend payout ratio (DPR) is currently 35.71%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on STT shares. Loop Capital set a $144.00 price objective on State Street in a research note on Tuesday, January 6th. Zacks Research lowered State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Morgan Stanley cut their price target on shares of State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday. The Goldman Sachs Group restated a “buy” rating on shares of State Street in a report on Tuesday, January 6th. Finally, Citigroup upped their target price on shares of State Street from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, December 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, State Street has an average rating of “Moderate Buy” and an average target price of $135.83.

State Street Company 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.