State Street Corporation $STT Holdings Raised by Jones Financial Companies Lllp

Jones Financial Companies Lllp lifted its stake in State Street Corporation (NYSE:STT) by 11.7% in the third quarter, HoldingsChannel reports. The firm owned 208,600 shares of the asset manager’s stock after purchasing an additional 21,810 shares during the period. Jones Financial Companies Lllp’s holdings in State Street were worth $24,139,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. AE Wealth Management LLC acquired a new stake in State Street during the third quarter valued at $6,611,000. Nordea Investment Management AB raised its stake in shares of State Street by 2.2% during the 2nd quarter. Nordea Investment Management AB now owns 2,273,567 shares of the asset manager’s stock worth $241,862,000 after purchasing an additional 49,475 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in shares of State Street during the 3rd quarter valued at about $1,353,000. Boston Common Asset Management LLC bought a new stake in shares of State Street in the 3rd quarter valued at approximately $7,848,000. Finally, Pacific Heights Asset Management LLC increased its holdings in State Street by 32.1% in the third quarter. Pacific Heights Asset Management LLC now owns 185,000 shares of the asset manager’s stock worth $21,462,000 after buying an additional 45,000 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on STT shares. TD Cowen reiterated a “buy” rating on shares of State Street in a research note on Wednesday, January 7th. Morgan Stanley reduced their price objective on shares of State Street from $168.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. Citigroup increased 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. The Goldman Sachs Group restated a “buy” rating on shares of State Street in a report on Tuesday, January 6th. Finally, Wells Fargo & Company upped their price target on State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.83.

State Street Stock Down 1.8%

STT 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 price-to-earnings-growth ratio of 1.17 and a beta of 1.43. The company has a 50-day moving average of $128.23 and a two-hundred day moving average of $118.95. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $137.05. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.59.

State Street (NYSE:STT) last posted its quarterly earnings data 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 business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the firm earned $2.60 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts anticipate that State Street Corporation will post 9.68 EPS for the current year.

State Street Dividend Announcement

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

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.