ABN Amro Investment Solutions Purchases New Shares in State Street Corporation $STT

ABN Amro Investment Solutions acquired a new position in State Street Corporation (NYSE:STT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,143 shares of the asset manager’s stock, valued at approximately $4,193,000.

Other large investors also recently made changes to their positions in the company. Regents of The University of California bought a new position in shares of State Street in the third quarter valued at about $324,576,000. Norges Bank bought a new position in shares of State Street in the second quarter worth about $256,367,000. First Trust Advisors LP lifted its position in shares of State Street by 39.0% during the second quarter. First Trust Advisors LP now owns 2,009,190 shares of the asset manager’s stock worth $213,657,000 after purchasing an additional 564,202 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of State Street during the second quarter valued at approximately $42,281,000. Finally, Invesco Ltd. increased its holdings in shares of State Street by 4.7% in the second quarter. Invesco Ltd. now owns 8,566,237 shares of the asset manager’s stock valued at $910,934,000 after purchasing an additional 381,547 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on STT shares. Morgan Stanley reduced their price objective on State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday, January 20th. Loop Capital set a $144.00 price target on State Street in a research note on Tuesday, January 6th. The Goldman Sachs Group reiterated a “buy” rating on shares of State Street in a report on Tuesday, January 6th. Truist Financial set a $136.00 price objective on State Street in a report on Tuesday, January 20th. Finally, Zacks Research lowered shares of State Street from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $135.83.

State Street Trading Up 1.3%

NYSE STT opened at $127.89 on Monday. State Street Corporation has a one year low of $72.81 and a one year 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. The firm has a market cap of $35.72 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.12 and a beta of 1.43. The stock’s 50-day moving average is $129.98 and its 200-day moving average is $120.04.

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

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 12th. Investors of record on Friday, January 2nd were given a $0.84 dividend. 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 payout ratio is currently 35.71%.

About State Street

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.