Aberdeen Group plc Lowers Stock Position in State Street Corporation $STT

Aberdeen Group plc cut its position in shares of State Street Corporation (NYSE:STT) by 9.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 255,510 shares of the asset manager’s stock after selling 27,877 shares during the quarter. Aberdeen Group plc owned approximately 0.09% of State Street worth $29,593,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC lifted 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 buying an additional 158 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new stake in shares of State Street during the third quarter valued at approximately $35,000. SJS Investment Consulting Inc. increased its position 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 purchasing an additional 300 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in State Street by 38.2% in 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 during the period. Finally, Root Financial Partners LLC purchased a new position in State Street in the third quarter valued at about $47,000. 87.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on STT shares. TD Cowen restated a “buy” rating on shares of State Street in a research note on Wednesday, January 7th. Truist Financial set a $136.00 target price on State Street in a research note on Tuesday, January 20th. Citigroup upped their price objective on shares of State Street from $136.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, December 30th. Zacks Research downgraded shares of State Street from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Finally, Keefe, Bruyette & Woods upped their price target on shares of State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.83.

State Street Stock Performance

NYSE STT opened at $127.89 on Tuesday. State Street Corporation has a 1 year low of $72.81 and a 1 year high of $137.05. 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 stock 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’s 50 day simple moving average is $130.06 and its two-hundred day simple moving average is $120.15.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 13.02% and a return on equity of 13.46%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.60 EPS. Analysts predict that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

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