American Century Companies Inc. Acquires 46,181 Shares of State Street Corporation $STT

American Century Companies Inc. raised its holdings in State Street Corporation (NYSE:STT) by 12.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 424,670 shares of the asset manager’s stock after buying an additional 46,181 shares during the period. American Century Companies Inc. owned about 0.15% of State Street worth $49,266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in STT. True Wealth Design LLC lifted its position in shares of State Street by 166.3% during the third quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 158 shares in the last quarter. Flagship Wealth Advisors LLC bought a new stake in State Street in the 3rd quarter worth about $35,000. SJS Investment Consulting Inc. increased its stake in State Street by 2,142.9% in the 3rd quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock valued at $36,000 after buying an additional 300 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of State Street by 38.2% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after buying an additional 94 shares in the last quarter. Finally, City Holding Co. bought a new position in shares of State Street during the 3rd quarter worth approximately $47,000. 87.44% of the stock is owned by institutional investors.

State Street Trading Down 1.1%

State Street stock opened at $125.19 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. State Street Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $137.05. The stock has a market cap of $34.89 billion, a P/E ratio of 13.30, a PEG ratio of 1.11 and a beta of 1.43. The firm’s fifty day moving average price is $129.84 and its 200-day moving average price is $121.59.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, topping the consensus estimate of $2.82 by $0.15. The company 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%.State Street’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.60 earnings per share. Equities research analysts forecast that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Wednesday, April 1st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Wednesday, April 1st. State Street’s dividend payout ratio is currently 35.71%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on STT. Morgan Stanley decreased their target price on State Street from $168.00 to $164.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. TD Cowen restated a “buy” rating on shares of State Street in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of State Street in a research report on Wednesday, January 21st. The Goldman Sachs Group reiterated a “buy” rating on shares of State Street in a research note on Tuesday, January 6th. Finally, Truist Financial set a $136.00 target price on shares of State Street in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, State Street presently has an average rating of “Moderate Buy” and a consensus price target of $135.83.

State Street 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.