Barclays PLC Boosts Stock Holdings in State Street Corporation $STT

Barclays PLC grew its holdings in State Street Corporation (NYSE:STT) by 27.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,576,332 shares of the asset manager’s stock after purchasing an additional 342,344 shares during the period. Barclays PLC owned approximately 0.56% of State Street worth $182,870,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of STT. True Wealth Design LLC raised its holdings in State Street by 166.3% during the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 158 shares during the period. Flagship Wealth Advisors LLC purchased a new stake in shares of State Street during the third quarter worth $35,000. SJS Investment Consulting Inc. boosted its holdings in shares of State Street by 2,142.9% in the third quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock worth $36,000 after acquiring an additional 300 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of 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 worth $39,000 after acquiring an additional 94 shares during the period. Finally, City Holding Co. purchased a new position in shares of State Street in the third quarter valued at $47,000. 87.44% of the stock is owned by institutional investors.

State Street Stock Performance

NYSE:STT opened at $120.85 on Friday. The stock has a market cap of $33.68 billion, a P/E ratio of 12.84, a PEG ratio of 1.10 and a beta of 1.43. 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 business’s 50-day moving average price is $129.61 and its two-hundred day moving average price is $121.66. State Street Corporation has a twelve month low of $72.81 and a twelve month high of $137.05.

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. As a group, equities analysts predict that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, April 1st. State Street’s payout ratio is currently 35.71%.

Analyst Upgrades and Downgrades

STT has been the topic of a number of analyst reports. Truist Financial set a $136.00 price objective on State Street in a research note on Tuesday, January 20th. Loop Capital set a $144.00 target price on State Street in a report on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a research report on Wednesday, January 21st. Wall Street Zen raised shares of State Street from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of State Street in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.