Impax Asset Management Group plc Has $14.85 Million Holdings in State Street Corporation $STT

Impax Asset Management Group plc lifted its stake in shares of State Street Corporation (NYSE:STT) by 49.2% in the 3rd quarter, Holdings Channel reports. The fund owned 127,984 shares of the asset manager’s stock after acquiring an additional 42,198 shares during the quarter. Impax Asset Management Group plc’s holdings in State Street were worth $14,847,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brown Advisory Inc. increased its holdings in State Street by 0.5% during the 2nd quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock worth $1,832,000 after purchasing an additional 93 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted 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 during the period. Global Retirement Partners LLC grew its holdings in shares of State Street by 7.7% during the third quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock worth $171,000 after buying an additional 105 shares in the last quarter. Security National Bank of SO Dak grew its holdings in shares of State Street by 0.5% during 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 in the last quarter. Finally, Harbour Investments Inc. raised its position in State Street by 11.7% in the 2nd quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock valued at $108,000 after buying an additional 106 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

STT has been the subject of several research reports. Citigroup raised their price target 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of State Street in a research report on Wednesday, January 21st. Keefe, Bruyette & Woods lifted 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. 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. Finally, Wall Street Zen upgraded State Street from a “sell” rating to a “hold” rating in a 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 given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $135.83.

State Street Price Performance

NYSE:STT opened at $131.53 on Thursday. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $137.05. The firm has a market capitalization of $36.74 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.16 and a beta of 1.43. The stock’s 50 day moving average price is $129.80 and its two-hundred day moving average price is $119.79. 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 (NYSE:STT) last issued its 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 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 the consensus estimate of $3.57 billion. During the same period in the previous year, the company posted $2.60 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, analysts anticipate that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

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 $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Friday, January 2nd. State Street’s payout ratio is currently 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.