ABN Amro Investment Solutions Takes $4.19 Million Position in State Street Corporation $STT

ABN Amro Investment Solutions acquired a new stake in State Street Corporation (NYSE:STT) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 36,143 shares of the asset manager’s stock, valued at approximately $4,193,000.

A number of other large investors have also recently added to or reduced their stakes in STT. Invesco Ltd. raised its position in shares of State Street by 4.7% in the second quarter. Invesco Ltd. now owns 8,566,237 shares of the asset manager’s stock valued at $910,934,000 after purchasing an additional 381,547 shares during the period. Dodge & Cox raised its holdings in State Street by 1.1% in the 2nd quarter. Dodge & Cox now owns 7,412,414 shares of the asset manager’s stock worth $788,236,000 after acquiring an additional 80,855 shares during the period. Geode Capital Management LLC raised its holdings in State Street by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 7,412,130 shares of the asset manager’s stock worth $784,930,000 after acquiring an additional 27,098 shares during the period. Regents of The University of California acquired a new position in State Street during the 3rd quarter worth $324,576,000. Finally, Nordea Investment Management AB boosted its holdings in State Street by 7.8% during the third quarter. Nordea Investment Management AB now owns 2,451,703 shares of the asset manager’s stock valued at $283,343,000 after acquiring an additional 178,136 shares during the period. Institutional investors own 87.44% of the company’s stock.

State Street Price Performance

State Street stock opened at $127.89 on Monday. The business has a 50 day simple moving average of $129.98 and a 200 day simple moving average of $120.04. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.59. The company has a market capitalization of $35.72 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. State Street Corporation has a one year low of $72.81 and a one year high of $137.05.

State Street (NYSE:STT) last released its quarterly earnings data 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 firm had revenue of $3.67 billion during 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%.The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.60 earnings per share. On average, sell-side analysts forecast 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 was paid on Monday, January 12th. Investors of record on Friday, January 2nd were issued 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 (DPR) is currently 35.71%.

Analysts Set New Price Targets

STT has been the subject of several research analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a research report on Tuesday, January 6th. TD Cowen reiterated a “buy” rating on shares of State Street in a report on Wednesday, January 7th. Zacks Research downgraded shares of State Street from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Morgan Stanley dropped their target price on shares of State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. Finally, Loop Capital set a $144.00 price target on shares of State Street in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, State Street presently has an average rating of “Moderate Buy” and an average target price 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.