Oregon Public Employees Retirement Fund Acquires 7,815 Shares of State Street Corporation $STT

Oregon Public Employees Retirement Fund increased its holdings in shares of State Street Corporation (NYSE:STT) by 31.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,424 shares of the asset manager’s stock after acquiring an additional 7,815 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in State Street were worth $3,762,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Capital Investment Advisors LLC bought a new position in State Street during the third quarter worth $258,000. Nisa Investment Advisors LLC lifted its stake in shares of State Street by 53.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 172,267 shares of the asset manager’s stock worth $19,985,000 after buying an additional 59,659 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in State Street by 1.3% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 1,141,261 shares of the asset manager’s stock valued at $132,398,000 after buying an additional 14,236 shares during the last quarter. Kingswood Wealth Advisors LLC grew its stake in State Street by 0.9% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 14,759 shares of the asset manager’s stock valued at $1,712,000 after buying an additional 134 shares during the last quarter. Finally, Foster & Motley Inc. raised its holdings in State Street by 6.4% in the 3rd quarter. Foster & Motley Inc. now owns 3,804 shares of the asset manager’s stock valued at $441,000 after acquiring an additional 230 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity

In related news, EVP Michael L. Richards sold 1,500 shares of State Street stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $117.24, for a total value of $175,860.00. Following the transaction, the executive vice president directly owned 38,626 shares of the company’s stock, valued at $4,528,512.24. This trade represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

State Street Stock Performance

NYSE:STT opened at $132.45 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.59 and a current ratio of 0.59. State Street Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $134.67. The company has a market cap of $36.99 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.89 and a beta of 1.43. The stock has a fifty day moving average price of $123.68 and a 200-day moving average price of $116.34.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, October 17th. The asset manager reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.21. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.43 billion. State Street had a return on equity of 13.37% and a net margin of 13.14%.State Street’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.26 earnings per share. As a group, equities analysts anticipate that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, January 2nd. State Street’s dividend payout ratio is 35.56%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on STT. BMO Capital Markets assumed coverage on State Street in a research report on Friday, October 3rd. They issued an “outperform” rating and a $130.00 target price on the stock. Citigroup upped their price objective on State Street from $136.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, December 30th. Morgan Stanley reissued an “overweight” rating and set a $168.00 target price on shares of State Street in a report on Tuesday, December 16th. Truist Financial reissued a “hold” rating and issued a $138.00 target price (up previously from $131.00) on shares of State Street in a research report on Wednesday, January 7th. Finally, Wells Fargo & Company raised their price target on shares of State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.77.

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.