State Street Corp (STT) Holdings Boosted by Creative Planning

Creative Planning raised its stake in State Street Corp (NYSE:STT) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,102 shares of the asset manager’s stock after purchasing an additional 253 shares during the period. Creative Planning’s holdings in State Street were worth $889,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in STT. Strategic Wealth Partners Ltd. grew its position in shares of State Street by 1,038.7% during the third quarter. Strategic Wealth Partners Ltd. now owns 353 shares of the asset manager’s stock worth $30,000 after acquiring an additional 322 shares during the last quarter. Moody National Bank Trust Division grew its position in shares of State Street by 199.4% during the fourth quarter. Moody National Bank Trust Division now owns 470 shares of the asset manager’s stock worth $30,000 after acquiring an additional 313 shares during the last quarter. Bartlett & Co. LLC grew its position in shares of State Street by 56.3% during the fourth quarter. Bartlett & Co. LLC now owns 555 shares of the asset manager’s stock worth $35,000 after acquiring an additional 200 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of State Street by 19.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,072 shares of the asset manager’s stock worth $59,000 after acquiring an additional 177 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of State Street during the fourth quarter worth approximately $70,000. Institutional investors own 88.51% of the company’s stock.

State Street stock opened at $69.51 on Wednesday. State Street Corp has a one year low of $57.87 and a one year high of $110.33. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.50. The firm has a market capitalization of $26.29 billion, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 1.16 and a beta of 1.36.

State Street (NYSE:STT) last released its earnings results on Friday, January 18th. The asset manager reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.01. State Street had a return on equity of 14.44% and a net margin of 20.05%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the company earned $1.61 earnings per share. State Street’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, analysts predict that State Street Corp will post 6.85 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 16th. Shareholders of record on Wednesday, January 2nd were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Monday, December 31st. State Street’s dividend payout ratio (DPR) is currently 26.04%.

A number of equities analysts have recently issued reports on STT shares. Raymond James upgraded shares of State Street from a “market perform” rating to a “strong-buy” rating and set a $82.00 target price on the stock in a research report on Monday, January 14th. Deutsche Bank lowered their price objective on shares of State Street from $92.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, November 16th. Barclays lowered their price objective on shares of State Street from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Monday, October 22nd. Zacks Investment Research reiterated a “hold” rating on shares of State Street in a research report on Monday, December 31st. Finally, Wells Fargo & Co lowered their price objective on shares of State Street from $92.00 to $82.00 and set an “outperform” rating on the stock in a research report on Thursday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $87.36.

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State Street Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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