Machina Capital S.A.S. Takes $2.62 Million Position in State Street Corporation $STT

Machina Capital S.A.S. purchased a new position in State Street Corporation (NYSE:STT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 22,601 shares of the asset manager’s stock, valued at approximately $2,622,000.

A number of other hedge funds have also recently bought and sold shares of the business. Brown Advisory Inc. raised its position in shares of State Street by 0.5% in the 2nd quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock valued at $1,832,000 after purchasing an additional 93 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of State Street by 38.2% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after buying an additional 94 shares in the last quarter. Security National Bank of SO Dak increased its stake in shares of State Street by 0.5% in the second quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock worth $2,289,000 after buying an additional 105 shares during the last quarter. Global Retirement Partners LLC raised its holdings in State Street by 7.7% in the third quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock valued at $171,000 after acquiring an additional 105 shares in the last quarter. Finally, Harbour Investments Inc. boosted its stake in State Street by 11.7% during the 2nd quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock valued at $108,000 after acquiring an additional 106 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Down 1.8%

Shares of State Street stock opened at $130.17 on Wednesday. The stock has a market capitalization of $36.36 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.17 and a beta of 1.43. State Street Corporation has a twelve month low of $72.81 and a twelve month high of $137.05. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. The business’s 50 day simple moving average is $128.23 and its 200-day simple moving average is $118.95.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.57 billion. During the same period in the prior year, the business earned $2.60 EPS. The firm’s revenue was up 7.5% on a year-over-year basis. Equities research analysts forecast that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

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

Analyst Ratings Changes

STT has been the subject of several research analyst reports. Citigroup boosted their target price on shares of State Street from $136.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, December 30th. Zacks Research lowered State Street from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Wall Street Zen upgraded State Street from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Loop Capital set a $144.00 target price on State Street in a research report on Tuesday, January 6th. Finally, Keefe, Bruyette & Woods boosted their price target on State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, State Street has an average rating of “Moderate Buy” and a consensus price target of $135.83.

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.