New York State Common Retirement Fund Has $21.95 Million Holdings in State Street Corporation $STT

New York State Common Retirement Fund trimmed its holdings in State Street Corporation (NYSE:STT) by 7.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 189,197 shares of the asset manager’s stock after selling 15,605 shares during the period. New York State Common Retirement Fund’s holdings in State Street were worth $21,949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in STT. True Wealth Design LLC lifted its holdings in State Street by 166.3% during the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 158 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new stake in shares of State Street during the 3rd quarter worth about $35,000. SJS Investment Consulting Inc. boosted its holdings in shares of State Street by 2,142.9% during the 3rd quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock worth $36,000 after buying an additional 300 shares during the period. City Holding Co. bought a new position in State Street in the 3rd quarter valued at about $47,000. Finally, Root Financial Partners LLC acquired a new stake in State Street during the third quarter worth approximately $47,000. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Performance

Shares of NYSE:STT opened at $130.74 on Friday. State Street Corporation has a 1 year low of $72.81 and a 1 year high of $137.05. The stock has a market capitalization of $36.52 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 1.15 and a beta of 1.43. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.59. The company’s 50 day simple moving average is $127.60 and its 200 day simple moving average is $118.53.

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

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Friday, January 2nd were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, January 2nd. State Street’s payout ratio is currently 35.71%.

Wall Street Analyst Weigh In

STT has been the subject of several research reports. Zacks Research cut State Street from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Keefe, Bruyette & Woods upped their price target on shares of State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Citigroup lifted their price objective on shares of State Street from $136.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, December 30th. TD Cowen restated a “buy” rating on shares of State Street in a research report on Wednesday, January 7th. Finally, Wall Street Zen upgraded shares of State Street from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.