State Street Corporation $STT Stock Position Lifted by Jones Financial Companies Lllp

Jones Financial Companies Lllp lifted its position in State Street Corporation (NYSE:STT) by 11.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 208,600 shares of the asset manager’s stock after acquiring an additional 21,810 shares during the quarter. Jones Financial Companies Lllp owned 0.07% of State Street worth $24,139,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Brown Advisory Inc. increased its stake in State Street by 0.5% during the second quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock valued at $1,832,000 after purchasing an additional 93 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of State Street by 38.2% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock valued at $39,000 after buying an additional 94 shares during the last quarter. Security National Bank of SO Dak raised its stake in State Street by 0.5% during the second quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock worth $2,289,000 after acquiring an additional 105 shares during the period. Global Retirement Partners LLC lifted its holdings in State Street by 7.7% in the third quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock worth $171,000 after acquiring an additional 105 shares during the last quarter. Finally, Harbour Investments Inc. boosted its stake in State Street by 11.7% in the second quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock valued at $108,000 after acquiring an additional 106 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Stock Down 1.8%

STT stock opened at $130.17 on Wednesday. The firm’s 50-day moving average is $128.23 and its two-hundred day moving average is $118.95. The company has a market capitalization of $36.36 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 1.17 and a beta of 1.43. State Street Corporation has a 52 week low of $72.81 and a 52 week high of $137.05. 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 (NYSE:STT) last issued its quarterly earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.15. State Street had a return on equity of 13.46% and a net margin of 13.02%.The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the company posted $2.60 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. On average, analysts forecast that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently issued reports on STT shares. Citigroup raised their price target on State Street from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, December 30th. Morgan Stanley cut their target price on State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. Zacks Research lowered shares of State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Wall Street Zen raised shares of State Street from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, State Street presently has an average rating of “Moderate Buy” and a consensus price target of $135.83.

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.