Strs Ohio Has $37.56 Million Holdings in State Street Corporation $STT

Strs Ohio increased its holdings in shares of State Street Corporation (NYSE:STT) by 31.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 323,768 shares of the asset manager’s stock after acquiring an additional 76,830 shares during the period. Strs Ohio’s holdings in State Street were worth $37,560,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in shares of State Street by 4.7% during the 2nd quarter. Invesco Ltd. now owns 8,566,237 shares of the asset manager’s stock worth $910,934,000 after buying an additional 381,547 shares during the last quarter. Dodge & Cox raised its holdings in State Street by 1.1% during the second quarter. Dodge & Cox now owns 7,412,414 shares of the asset manager’s stock worth $788,236,000 after acquiring an additional 80,855 shares in the last quarter. Geode Capital Management LLC boosted its position in State Street by 0.4% during the second quarter. Geode Capital Management LLC now owns 7,412,130 shares of the asset manager’s stock valued at $784,930,000 after purchasing an additional 27,098 shares during the last quarter. Nordea Investment Management AB grew its stake in State Street by 7.8% in the third quarter. Nordea Investment Management AB now owns 2,451,703 shares of the asset manager’s stock valued at $283,343,000 after purchasing an additional 178,136 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of State Street during the 2nd quarter worth approximately $256,367,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $117.24, for a total value of $175,860.00. Following the completion of the sale, the executive vice president directly owned 38,626 shares in the company, valued at $4,528,512.24. The trade was a 3.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

State Street Stock Performance

Shares of STT stock opened at $126.10 on Friday. State Street Corporation has a 52 week low of $72.81 and a 52 week high of $137.05. The company has a market capitalization of $35.22 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 1.13 and a beta of 1.43. The company has a 50-day simple moving average of $126.05 and a 200 day simple moving average of $117.74. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.61.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share for the quarter, beating 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 prior year, the firm earned $2.60 EPS. The business’s revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts predict that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 12th. Stockholders of record on Friday, January 2nd were paid a dividend of $0.84 per share. The ex-dividend date was Friday, January 2nd. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.7%. State Street’s dividend payout ratio (DPR) is 35.71%.

Wall Street Analysts Forecast Growth

STT has been the subject of several analyst reports. Evercore ISI raised their target price on shares of State Street from $117.00 to $128.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Morgan Stanley decreased 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 report on Tuesday. Citigroup boosted their price objective 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. Wall Street Zen upgraded shares of State Street from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, BMO Capital Markets started coverage on State Street in a report on Friday, October 3rd. They set an “outperform” rating and a $130.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, State Street currently has a consensus rating of “Moderate Buy” and a consensus 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.