Fiduciary Alliance LLC Acquires Shares of 5,962 State Street Corporation $STT

Fiduciary Alliance LLC acquired a new stake in State Street Corporation (NYSE:STT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,962 shares of the asset manager’s stock, valued at approximately $769,000.

A number of other hedge funds also recently bought and sold shares of STT. Franklin Resources Inc. increased its holdings in shares of State Street by 3.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,859,012 shares of the asset manager’s stock worth $447,684,000 after buying an additional 137,049 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of State Street by 15.4% during the 4th quarter. Nordea Investment Management AB now owns 2,829,271 shares of the asset manager’s stock worth $367,041,000 after buying an additional 377,568 shares during the last quarter. Regents of The University of California acquired a new stake in shares of State Street during the 3rd quarter worth approximately $324,576,000. First Trust Advisors LP increased its holdings in shares of State Street by 36.8% during the 3rd quarter. First Trust Advisors LP now owns 2,747,646 shares of the asset manager’s stock worth $318,754,000 after buying an additional 738,456 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of State Street by 27.7% during the 3rd quarter. Barclays PLC now owns 1,576,332 shares of the asset manager’s stock worth $182,870,000 after buying an additional 342,344 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Performance

NYSE:STT opened at $139.37 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a market capitalization of $38.61 billion, a P/E ratio of 14.81, a PEG ratio of 0.91 and a beta of 1.37. The company has a 50 day moving average price of $127.54 and a 200 day moving average price of $124.01. State Street Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $139.90.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.15. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.57 billion. State Street had a net margin of 13.02% and a return on equity of 13.46%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company posted $2.60 EPS. Equities research analysts forecast that State Street Corporation will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Wednesday, April 1st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.4%. State Street’s dividend payout ratio (DPR) is presently 35.71%.

Insider Buying and Selling at State Street

In related news, EVP John Plansky sold 16,100 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the completion of the transaction, the executive vice president owned 56,162 shares of the company’s stock, valued at approximately $6,982,059.84. This trade represents a 22.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of recent analyst reports. Bank of America upgraded shares of State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price target for the company in a report on Monday, April 6th. The Goldman Sachs Group restated a “buy” rating on shares of State Street in a report on Tuesday, January 6th. Wall Street Zen upgraded shares of State Street from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Truist Financial set a $136.00 price target on shares of State Street in a report on Tuesday, January 20th. Finally, Citigroup initiated coverage on shares of State Street in a report on Monday, February 23rd. They set a “buy” rating and a $150.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $140.50.

Key State Street News

Here are the key news stories impacting State Street this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target to $157 and kept an “outperform” rating, giving formal analyst momentum and a clear upside signal to investors. Keefe Bruyette & Woods raises price target to $157
• Positive Sentiment: Zacks says STT is a top dividend stock right now, highlighting yield and payout durability that can attract income-focused investors and support multiple expansion. State Street Corporation (STT) is a Top Dividend Stock Right Now: Should You Buy?
• Positive Sentiment: Another Zacks piece flags that State Street has the ingredients for an earnings beat (momentum in revenue/fee trends), which can lift short-term sentiment ahead of future quarterly results. State Street Corporation (STT) Earnings Expected to Grow: Should You Buy?
• Positive Sentiment: State Street expanded a long-running partnership with Thornburg to support new ETF share classes — a direct business win that can increase custody/administration fee flows as ETF assets scale. State Street Expands Long Partnership With Thornburg to Support New ETF Share Classes
• Neutral Sentiment: State Street analysts published a bullish gold outlook (gold above $5,000 long term); informative for macro strategy but indirect for STT’s fees/earnings. State Street sees gold pushing above $5,000 despite near-term headwinds
• Neutral Sentiment: TipRanks notes State Street Group ceased to be a substantial holder in SRG Global (AU); likely an isolated portfolio change with limited impact on STT fundamentals. State Street Group Ceases to Be Substantial Holder in SRG Global
• Neutral Sentiment: A Barron’s piece on copper/miners is market color for commodity investors but does not directly affect State Street’s operating outlook. Copper Is a ‘Peace’ Commodity. Own These Miners in a Market Recovery.

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.