State Street Corporation $STT Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. decreased its holdings in shares of State Street Corporation (NYSE:STT) by 43.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,014 shares of the asset manager’s stock after selling 10,791 shares during the quarter. Twin Capital Management Inc.’s holdings in State Street were worth $1,626,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of State Street in the fourth quarter worth approximately $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of State Street by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock valued at $2,885,000 after purchasing an additional 918 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of State Street by 105.2% in the 1st quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock valued at $913,000 after purchasing an additional 5,226 shares during the last quarter. Empowered Funds LLC grew its stake in shares of State Street by 220.1% during the 1st quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock valued at $2,065,000 after buying an additional 15,996 shares during the period. Finally, Woodline Partners LP raised its position in shares of State Street by 38.4% in the 1st quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock worth $2,182,000 after buying an additional 6,767 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Stock Up 2.8%

Shares of NYSE:STT opened at $132.34 on Friday. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $137.05. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. The firm has a market cap of $36.96 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 1.16 and a beta of 1.43. The company has a fifty day simple moving average of $129.00 and a 200 day simple moving average of $119.35.

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 business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the company posted $2.60 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts anticipate that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 12th. Investors of record on Friday, January 2nd were paid 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 currently 35.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of State Street in a research report on Wednesday, January 21st. The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a research report on Tuesday, January 6th. Truist Financial set a $136.00 price target on shares of State Street in a research report on Tuesday, January 20th. Citigroup increased their price objective on shares of State Street from $136.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, December 30th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has given 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.

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.