State Street Corporation $STT Stock Position Reduced by Catalyst Financial Partners LLC

Catalyst Financial Partners LLC trimmed its holdings in shares of State Street Corporation (NYSE:STT) by 60.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,042,958 shares of the asset manager’s stock after selling 1,600,463 shares during the period. State Street accounts for about 14.6% of Catalyst Financial Partners LLC’s holdings, making the stock its 2nd largest holding. Catalyst Financial Partners LLC owned about 0.37% of State Street worth $120,994,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Regents of The University of California purchased a new stake in State Street in the 3rd quarter valued at $324,576,000. Jones Financial Companies Lllp increased its stake in State Street by 11.7% in the third quarter. Jones Financial Companies Lllp now owns 208,600 shares of the asset manager’s stock valued at $24,139,000 after purchasing an additional 21,810 shares during the period. Machina Capital S.A.S. acquired a new position in State Street in the third quarter valued at $2,622,000. AE Wealth Management LLC purchased a new stake in shares of State Street in the third quarter valued at about $6,611,000. Finally, Impax Asset Management Group plc boosted its stake in shares of State Street by 49.2% during the third quarter. Impax Asset Management Group plc now owns 127,984 shares of the asset manager’s stock worth $14,847,000 after buying an additional 42,198 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Stock Performance

NYSE:STT opened at $131.58 on Thursday. The firm’s fifty day simple moving average is $130.09 and its 200-day simple moving average is $120.97. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The stock has a market cap of $36.67 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. State Street Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $137.05.

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

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Wednesday, April 1st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, April 1st. State Street’s dividend payout ratio (DPR) is presently 35.71%.

Analysts Set New Price Targets

Several analysts have commented on the company. Morgan Stanley reduced their price objective on State Street from $168.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. TD Cowen reiterated a “buy” rating on shares of State Street in a research report on Wednesday, January 7th. Truist Financial set a $136.00 price objective on shares of State Street in a research report on Tuesday, January 20th. Loop Capital set a $144.00 target price on shares of State Street in a report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $135.83.

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.