North Dakota State Investment Board Takes Position in State Street Corporation $STT

North Dakota State Investment Board purchased a new stake in State Street Corporation (NYSE:STT) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 9,707 shares of the asset manager’s stock, valued at approximately $1,252,000.

A number of other institutional investors have also made changes to their positions in the company. Chicago Partners Investment Group LLC increased its holdings in shares of State Street by 1.6% in the 4th quarter. Chicago Partners Investment Group LLC now owns 5,351 shares of the asset manager’s stock valued at $675,000 after acquiring an additional 83 shares during the last quarter. Wedmont Private Capital increased its holdings in shares of State Street by 1.3% in the 4th quarter. Wedmont Private Capital now owns 6,498 shares of the asset manager’s stock valued at $861,000 after acquiring an additional 85 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of State Street by 38.2% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 94 shares during the last quarter. Arjuna Capital increased its holdings in shares of State Street by 0.4% in the 4th quarter. Arjuna Capital now owns 25,139 shares of the asset manager’s stock valued at $3,243,000 after acquiring an additional 95 shares during the last quarter. Finally, LVW Advisors LLC increased its holdings in shares of State Street by 1.7% in the 4th quarter. LVW Advisors LLC now owns 5,605 shares of the asset manager’s stock valued at $723,000 after acquiring an additional 96 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

State Street Price Performance

Shares of STT opened at $150.58 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.57. State Street Corporation has a 12 month low of $94.19 and a 12 month high of $156.18. The stock has a fifty day moving average price of $137.94 and a 200 day moving average price of $130.13. The company has a market cap of $41.68 billion, a P/E ratio of 15.27, a PEG ratio of 0.84 and a beta of 1.45.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.20. State Street had a return on equity of 14.22% and a net margin of 13.47%.The company had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the previous year, the firm posted $2.04 EPS. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. On average, research analysts forecast that State Street Corporation will post 12.35 earnings per share for the current year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Wednesday, April 1st. State Street’s payout ratio is 34.08%.

Insiders Place Their Bets

In other State Street news, EVP John Plansky sold 16,100 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the completion of the transaction, the executive vice president owned 56,162 shares in the company, valued at approximately $6,982,059.84. The trade was a 22.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Mostapha Tahiri sold 9,611 shares of the business’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $152.93, for a total value of $1,469,810.23. Following the transaction, the chief operating officer owned 64,642 shares of the company’s stock, valued at $9,885,701.06. This trade represents a 12.94% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 28,711 shares of company stock worth $3,933,032. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on STT. Truist Financial boosted their price target on State Street from $136.00 to $150.00 and gave the company a “hold” rating in a report on Monday, April 20th. Citigroup upped their price objective on State Street from $150.00 to $172.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Keefe, Bruyette & Woods upped their price objective on State Street from $157.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Weiss Ratings restated a “buy (b)” rating on shares of State Street in a research note on Monday, April 20th. Finally, Royal Bank Of Canada upped their price objective on State Street from $135.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Monday, April 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, State Street presently has an average rating of “Moderate Buy” and an average price target of $155.77.

State Street 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.