Candriam S.C.A. Grows Stock Holdings in State Street Corporation $STT

Candriam S.C.A. boosted its stake in shares of State Street Corporation (NYSE:STT) by 17.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,055 shares of the asset manager’s stock after purchasing an additional 7,381 shares during the period. Candriam S.C.A.’s holdings in State Street were worth $5,691,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in STT. Brown Advisory Inc. boosted its stake in shares of State Street by 0.5% in the 2nd quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock worth $1,832,000 after buying an additional 93 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings 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 valued at $39,000 after acquiring an additional 94 shares during the period. Global Retirement Partners LLC boosted its position in State Street by 7.7% in the third 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 last quarter. Security National Bank of SO Dak grew its stake in shares of State Street by 0.5% during the 2nd quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock valued at $2,289,000 after purchasing an additional 105 shares during the period. Finally, Harbour Investments Inc. increased its position in shares of State Street by 11.7% during the 2nd quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock valued at $108,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Price Performance

NYSE:STT opened at $131.53 on Thursday. The business’s 50-day simple moving average is $129.80 and its two-hundred day simple moving average is $119.79. State Street Corporation has a 52 week low of $72.81 and a 52 week high of $137.05. The stock has a market cap of $36.74 billion, a PE ratio of 13.98, a P/E/G ratio of 1.16 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.

State Street (NYSE:STT) last released 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 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 quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.60 earnings per share. As a group, analysts forecast that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis 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 35.71%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of State Street in a report on Wednesday, January 21st. Zacks Research downgraded shares of State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of State Street in a research note on Tuesday, January 6th. Truist Financial set a $136.00 price objective on shares of State Street in a research report on Tuesday, January 20th. Finally, Citigroup raised their target price on State Street from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, December 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.