Bessemer Group Inc. Has $1.85 Million Stock Position in State Street Corporation $STT

Bessemer Group Inc. lifted its stake in State Street Corporation (NYSE:STT) by 100.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,991 shares of the asset manager’s stock after purchasing an additional 8,005 shares during the period. Bessemer Group Inc.’s holdings in State Street were worth $1,854,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC boosted its holdings in State Street by 166.3% during the third quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock worth $29,000 after buying an additional 158 shares during the last quarter. Flagship Wealth Advisors LLC bought a new position in State Street during the 3rd quarter worth approximately $35,000. SJS Investment Consulting Inc. grew its holdings in State Street by 2,142.9% during the third quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 300 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its stake in State Street by 38.2% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 94 shares in the last quarter. Finally, City Holding Co. acquired a new stake in State Street in the third quarter worth $47,000. Institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Loop Capital set a $144.00 price target on shares of State Street in a report on Tuesday, January 6th. Morgan Stanley decreased their target price on State Street from $168.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. Keefe, Bruyette & Woods raised their price target on State Street from $132.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. TD Cowen reiterated a “buy” rating on shares of State Street in a research report on Wednesday, January 7th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.83.

State Street Stock Performance

Shares of STT opened at $132.34 on Monday. The stock has a market capitalization of $36.96 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.16 and a beta of 1.43. State Street Corporation has a 12 month low of $72.81 and a 12 month high of $137.05. The firm has a fifty day simple moving average of $129.00 and a 200 day simple moving average of $119.41. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04.

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

State Street Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 12th. Investors of record on Friday, January 2nd were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $3.36 annualized dividend and a yield of 2.5%. State Street’s dividend 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.