Cibc World Market Inc. Has $3.86 Million Holdings in State Street Corporation $STT

Cibc World Market Inc. lifted its stake in State Street Corporation (NYSE:STT) by 861.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,296 shares of the asset manager’s stock after buying an additional 29,834 shares during the period. Cibc World Market Inc.’s holdings in State Street were worth $3,863,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC boosted its position in shares of 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 in the last quarter. Flagship Wealth Advisors LLC bought a new position in shares of State Street in the 3rd quarter valued at $35,000. SJS Investment Consulting Inc. increased its stake in shares of State Street by 2,142.9% in the 3rd quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in State Street by 38.2% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after acquiring an additional 94 shares in the last quarter. Finally, City Holding Co. acquired a new position in State Street during the 3rd quarter worth approximately $47,000. 87.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on STT. Truist Financial set a $136.00 price objective on State Street in a research note on Tuesday, January 20th. Loop Capital set a $144.00 price target on shares of State Street in a research report on Tuesday, January 6th. Zacks Research cut shares of State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Weiss Ratings restated a “buy (b)” rating on shares of State Street in a research report on Wednesday, January 21st. Finally, Citigroup boosted their price target on State Street from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, December 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, State Street currently has an average rating of “Moderate Buy” and an average target price of $135.83.

State Street Price Performance

Shares of NYSE:STT opened at $127.89 on Monday. The firm has a market capitalization of $35.72 billion, a PE ratio of 13.59, a P/E/G ratio of 1.12 and a beta of 1.43. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average price of $129.98 and a two-hundred day moving average price of $120.04. State Street Corporation has a twelve month low of $72.81 and a twelve month high of $137.05.

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. The business 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 company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.60 EPS. Equities analysts forecast that State Street Corporation will post 9.68 EPS for the current year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Friday, January 2nd were paid a dividend of $0.84 per share. 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 (DPR) is 35.71%.

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.