Aster Capital Management DIFC Ltd Buys New Shares in State Street Corporation $STT

Aster Capital Management DIFC Ltd purchased a new position in State Street Corporation (NYSE:STT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,961 shares of the asset manager’s stock, valued at approximately $576,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Advisory Inc. boosted its stake in shares of State Street by 0.5% in the second quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock worth $1,832,000 after acquiring an additional 93 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in State Street by 38.2% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after purchasing an additional 94 shares in the last quarter. Global Retirement Partners LLC boosted its stake in State Street by 7.7% in the 3rd quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock worth $171,000 after purchasing an additional 105 shares during the period. Security National Bank of SO Dak boosted its stake in State Street by 0.5% in the 2nd quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock worth $2,289,000 after purchasing an additional 105 shares during the period. Finally, SYM FINANCIAL Corp grew its holdings in State Street by 4.9% during the 3rd quarter. SYM FINANCIAL Corp now owns 2,586 shares of the asset manager’s stock valued at $300,000 after buying an additional 120 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on STT. The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a report on Tuesday, January 6th. Truist Financial set a $136.00 price target on shares of State Street in a research note on Tuesday, January 20th. Wall Street Zen raised shares of State Street from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Citigroup started coverage on State Street in a research report on Monday. They set a “buy” rating and a $150.00 price objective for the company. Finally, TD Cowen reiterated a “buy” rating on shares of State Street in a research report on Wednesday, January 7th. One equities research 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.83.

State Street Price Performance

STT stock opened at $132.33 on Friday. The stock has a market cap of $36.88 billion, a PE ratio of 14.06, a P/E/G ratio of 1.15 and a beta of 1.43. State Street Corporation has a 12 month low of $72.81 and a 12 month high of $137.05. The company has a 50-day moving average price of $130.19 and a 200 day moving average price of $121.05. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last announced its earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.60 earnings per share. Equities research analysts anticipate that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, April 1st. State Street’s dividend 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.