New York State Common Retirement Fund Sells 15,605 Shares of State Street Corporation $STT

New York State Common Retirement Fund trimmed its position in State Street Corporation (NYSE:STT) by 7.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 189,197 shares of the asset manager’s stock after selling 15,605 shares during the period. New York State Common Retirement Fund owned about 0.07% of State Street worth $21,949,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in STT. True Wealth Design LLC lifted its position in State Street by 166.3% during the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 158 shares during the period. Flagship Wealth Advisors LLC bought a new position in State Street in the third quarter valued at approximately $35,000. SJS Investment Consulting Inc. grew its holdings in State Street by 2,142.9% during the 3rd quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock worth $36,000 after acquiring an additional 300 shares during the period. City Holding Co. bought a new stake in shares of State Street during the 3rd quarter valued at $47,000. Finally, Root Financial Partners LLC acquired a new position in shares of State Street in the 3rd quarter valued at $47,000. Institutional investors own 87.44% of the company’s stock.

State Street Stock Down 0.5%

State Street stock opened at $130.74 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. State Street Corporation has a 1-year low of $72.81 and a 1-year high of $137.05. The company has a fifty day simple moving average of $127.60 and a 200 day simple moving average of $118.53. The company has a market cap of $36.52 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 1.15 and a beta of 1.43.

State Street (NYSE:STT) last released its earnings results 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. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.57 billion. State Street had a return on equity of 13.46% and a net margin of 13.02%.State Street’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.60 earnings per share. Research analysts anticipate that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Friday, January 2nd were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, January 2nd. State Street’s dividend payout ratio is 35.71%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Morgan Stanley decreased their price objective on State Street from $168.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. Keefe, Bruyette & Woods lifted their price target on shares of State Street from $132.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Loop Capital set a $144.00 price objective on shares of State Street in a research report on Tuesday, January 6th. Truist Financial set a $136.00 price target on State Street in a report on Tuesday, January 20th. Finally, Wall Street Zen upgraded State Street from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, State Street presently has an average rating of “Moderate Buy” and an average 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.