State Street Corporation $STT Shares Purchased by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp grew its position in shares of State Street Corporation (NYSE:STT) by 1,748.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 26,430 shares of the asset manager’s stock after acquiring an additional 25,000 shares during the period. Atlantic Union Bankshares Corp’s holdings in State Street were worth $3,066,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. AGF Management Ltd. lifted its stake in shares of State Street by 5.2% in the 3rd quarter. AGF Management Ltd. now owns 7,125 shares of the asset manager’s stock valued at $827,000 after purchasing an additional 349 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in State Street by 11.7% in the third quarter. Jones Financial Companies Lllp now owns 208,600 shares of the asset manager’s stock valued at $24,139,000 after buying an additional 21,810 shares during the period. Arjuna Capital raised its holdings in State Street by 107.0% in the third quarter. Arjuna Capital now owns 25,044 shares of the asset manager’s stock valued at $2,905,000 after buying an additional 12,943 shares during the period. Allied Investment Advisors LLC lifted its position in State Street by 1.9% during the third quarter. Allied Investment Advisors LLC now owns 126,785 shares of the asset manager’s stock valued at $14,708,000 after buying an additional 2,400 shares in the last quarter. Finally, Mediolanum International Funds Ltd grew its stake in State Street by 201.9% during the third quarter. Mediolanum International Funds Ltd now owns 21,838 shares of the asset manager’s stock worth $2,561,000 after buying an additional 14,604 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Price Performance

Shares of NYSE STT opened at $130.17 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. State Street Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $137.05. The business has a 50 day moving average price of $128.23 and a two-hundred day moving average price of $118.95. The firm has a market cap of $36.36 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 1.17 and a beta of 1.43.

State Street (NYSE:STT) last released its earnings results on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, beating 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 company 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 business posted $2.60 EPS. The business’s revenue was up 7.5% on a year-over-year basis. Sell-side analysts expect that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, January 2nd. State Street’s dividend payout ratio (DPR) is currently 35.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on STT shares. The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a research note on Tuesday, January 6th. Wall Street Zen upgraded State Street from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Keefe, Bruyette & Woods raised their price objective on State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Zacks Research cut State Street from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Finally, TD Cowen reiterated a “buy” rating on shares of State Street in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average 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.