Clean Yield Group Has $2.48 Million Holdings in State Street Corporation $STT

Clean Yield Group lifted its holdings in State Street Corporation (NYSE:STT) by 8,247.4% in the 4th quarter, Holdings Channel reports. The firm owned 19,199 shares of the asset manager’s stock after buying an additional 18,969 shares during the quarter. Clean Yield Group’s holdings in State Street were worth $2,477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of STT. Regents of The University of California acquired a new stake in shares of State Street in the 3rd quarter valued at $324,576,000. Two Sigma Investments LP lifted its stake in shares of State Street by 261.0% in the 3rd quarter. Two Sigma Investments LP now owns 1,217,802 shares of the asset manager’s stock valued at $141,277,000 after purchasing an additional 880,507 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of State Street by 36.8% in the 3rd quarter. First Trust Advisors LP now owns 2,747,646 shares of the asset manager’s stock valued at $318,754,000 after purchasing an additional 738,456 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of State Street in the 3rd quarter valued at $62,092,000. Finally, Qube Research & Technologies Ltd lifted its stake in shares of State Street by 157.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 863,666 shares of the asset manager’s stock valued at $100,194,000 after purchasing an additional 528,246 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Up 0.7%

State Street stock opened at $142.80 on Thursday. The firm has a market cap of $39.56 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 0.92 and a beta of 1.37. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61. State Street Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $143.59. The firm has a fifty day moving average price of $128.17 and a two-hundred day moving average price of $124.59.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 earnings per share (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 company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the firm posted $2.60 EPS. The business’s revenue was up 7.5% compared to the same quarter last year. As a group, analysts forecast that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, April 1st. State Street’s dividend payout ratio is currently 35.71%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. 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. Bank of America raised shares of State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price objective for the company in a research note on Monday, April 6th. The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods boosted their target price on shares of State Street from $147.00 to $157.00 and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Finally, Truist Financial set a $136.00 target price on shares of State Street in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, State Street presently has a consensus rating of “Moderate Buy” and an average target price of $140.50.

Insiders Place Their Bets

In other State Street news, EVP John Plansky sold 16,100 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the sale, the executive vice president directly owned 56,162 shares of the company’s stock, valued at approximately $6,982,059.84. This represents a 22.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

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.