19,971 Shares in State Street Corporation $STT Bought by Caprock Group LLC

Caprock Group LLC purchased a new stake in shares of State Street Corporation (NYSE:STT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 19,971 shares of the asset manager’s stock, valued at approximately $2,296,000.

A number of other hedge funds also recently made changes to their positions in the stock. True Wealth Design LLC raised its stake in State Street by 166.3% during the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock worth $29,000 after acquiring an additional 158 shares during the period. Flagship Wealth Advisors LLC purchased a new stake in shares of State Street in the third quarter worth $35,000. SJS Investment Consulting Inc. lifted its stake in shares of State Street by 2,142.9% during the 3rd quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock valued at $36,000 after buying an additional 300 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its stake 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 in the last quarter. Finally, City Holding Co. bought a new position in State Street in the 3rd quarter worth $47,000. 87.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

STT has been the topic of a number of recent analyst reports. Morgan Stanley decreased their price target on State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday, January 20th. Wall Street Zen raised State Street from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Keefe, Bruyette & Woods boosted their price target on State Street from $132.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Wells Fargo & Company increased their price objective on shares of State Street from $121.00 to $129.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Truist Financial set a $136.00 target price on shares of State Street in a report on Tuesday, January 20th. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $135.83.

State Street Stock Performance

NYSE:STT opened at $126.22 on Friday. The company has a market cap of $35.26 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.16 and a beta of 1.43. State Street Corporation has a 1 year low of $72.81 and a 1 year high of $137.05. The stock’s 50 day simple moving average is $129.89 and its two-hundred day simple moving average is $119.84. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.59.

State Street (NYSE:STT) last posted its earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.15. State Street had a net margin of 13.02% and a return on equity of 13.46%. 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 firm posted $2.60 earnings per share. State Street’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, equities analysts anticipate that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 12th. Stockholders of record on Friday, January 2nd were issued a $0.84 dividend. The ex-dividend date was Friday, January 2nd. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.7%. State Street’s payout ratio is 35.71%.

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.