4,961 Shares in State Street Corporation $STT Purchased by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd acquired a new stake in shares of State Street Corporation (NYSE:STT) in the third quarter, Holdings Channel reports. The firm acquired 4,961 shares of the asset manager’s stock, valued at approximately $576,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. True Wealth Design LLC increased its position in shares of 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 acquiring an additional 158 shares during the period. Flagship Wealth Advisors LLC bought a new position in State Street in the third quarter worth approximately $35,000. SJS Investment Consulting Inc. grew its stake in State Street by 2,142.9% in the third quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock worth $36,000 after purchasing an additional 300 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in State Street by 38.2% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after purchasing an additional 94 shares during the period. Finally, Root Financial Partners LLC bought a new stake in State Street during the 3rd quarter valued at $47,000. 87.44% of the stock is currently owned by institutional investors.

State Street Trading Up 0.5%

NYSE:STT opened at $132.33 on Friday. The company has a market capitalization of $36.88 billion, a P/E ratio of 14.06, a PEG ratio of 1.15 and a beta of 1.43. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04. 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 $130.19 and a 200-day simple moving average of $121.05.

State Street (NYSE:STT) last issued 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. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.57 billion. State Street had a return on equity of 13.46% and a net margin of 13.02%.The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $2.60 EPS. On average, equities research analysts anticipate that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Wednesday, April 1st will be given a $0.84 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $3.36 dividend on an annualized basis and a yield of 2.5%. State Street’s dividend payout ratio is currently 35.71%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on STT shares. Weiss Ratings reissued a “buy (b)” rating on shares of State Street in a research report on Wednesday, January 21st. Morgan Stanley lowered 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. Truist Financial set a $136.00 target price on shares of State Street in a research report on Tuesday, January 20th. TD Cowen restated a “buy” rating on shares of State Street in a report on Wednesday, January 7th. Finally, Loop Capital set a $144.00 price target on shares of State Street in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.