Tredje AP fonden Buys 4,085 Shares of State Street Corporation $STT

Tredje AP fonden grew its stake in shares of State Street Corporation (NYSE:STT) by 15.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,026 shares of the asset manager’s stock after acquiring an additional 4,085 shares during the quarter. Tredje AP fonden’s holdings in State Street were worth $3,599,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in STT. Regents of The University of California bought a new position in State Street during the third quarter valued at approximately $324,576,000. Norges Bank purchased a new stake in State Street during the 2nd quarter valued at $256,367,000. First Trust Advisors LP lifted its holdings in shares of State Street by 39.0% during the 2nd quarter. First Trust Advisors LP now owns 2,009,190 shares of the asset manager’s stock valued at $213,657,000 after buying an additional 564,202 shares during the period. Jupiter Asset Management Ltd. purchased a new position in shares of State Street in the 3rd quarter worth $62,092,000. Finally, Invesco Ltd. grew its holdings in shares of State Street by 4.7% in the second quarter. Invesco Ltd. now owns 8,566,237 shares of the asset manager’s stock worth $910,934,000 after acquiring an additional 381,547 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Price Performance

Shares of NYSE:STT opened at $127.90 on Friday. The firm’s 50 day simple moving average is $130.09 and its two-hundred day simple moving average is $120.61. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.59. The company has a market capitalization of $35.72 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.12 and a beta of 1.43. State Street Corporation has a 1-year low of $72.81 and a 1-year high of $137.05.

State Street (NYSE:STT) last released its earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share for the quarter, beating 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 company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the company earned $2.60 EPS. State Street’s revenue for the quarter was up 7.5% on a year-over-year basis. Research analysts expect that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Wednesday, April 1st will be paid a dividend of $0.84 per share. 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 35.71%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a research report on Tuesday, January 6th. TD Cowen reiterated a “buy” rating on shares of State Street in a research note on Wednesday, January 7th. Citigroup boosted their target price on shares of State Street from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, December 30th. Zacks Research downgraded shares of State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Finally, Morgan Stanley cut their price objective on shares of State Street from $168.00 to $164.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. One investment 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. According to MarketBeat, State Street has an average rating of “Moderate Buy” and a consensus price target 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.