TIAA CREF Investment Management LLC boosted its position in State Street Corp (NYSE:STT) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,655,374 shares of the asset manager’s stock after purchasing an additional 90,694 shares during the period. TIAA CREF Investment Management LLC owned about 0.72% of State Street worth $259,191,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of STT. Capital International Investors lifted its stake in State Street by 63.3% in the third quarter. Capital International Investors now owns 5,771,226 shares of the asset manager’s stock valued at $551,383,000 after purchasing an additional 2,237,595 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in State Street by 44.8% in the third quarter. Artisan Partners Limited Partnership now owns 4,470,723 shares of the asset manager’s stock valued at $427,133,000 after purchasing an additional 1,383,249 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its stake in State Street by 247.9% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 1,717,897 shares of the asset manager’s stock valued at $167,683,000 after purchasing an additional 1,224,171 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in State Street by 27.7% in the third quarter. JPMorgan Chase & Co. now owns 2,908,094 shares of the asset manager’s stock valued at $278,625,000 after purchasing an additional 630,368 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in State Street by 65.9% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,154,778 shares of the asset manager’s stock valued at $112,719,000 after purchasing an additional 458,599 shares during the last quarter. Institutional investors and hedge funds own 89.15% of the company’s stock.
STT has been the topic of several research analyst reports. ValuEngine upgraded State Street from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded State Street from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a research note on Thursday, January 25th. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Tuesday, December 12th. Bank of America upped their price objective on State Street from $108.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Finally, Morgan Stanley upped their price objective on State Street from $114.00 to $117.00 and gave the company an “equal weight” rating in a research note on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $108.33.
Shares of State Street Corp (NYSE STT) opened at $107.33 on Wednesday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.61. State Street Corp has a 1-year low of $75.27 and a 1-year high of $114.27. The stock has a market cap of $40,011.70, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 1.42 and a beta of 1.29.
State Street (NYSE:STT) last issued its earnings results on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.10). State Street had a net margin of 17.94% and a return on equity of 13.41%. The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the firm earned $1.48 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. equities research analysts forecast that State Street Corp will post 7.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.68 annualized dividend and a dividend yield of 1.57%. State Street’s payout ratio is currently 32.12%.
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State Street Company Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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