State Street Corporation $STT Holdings Boosted by Voya Investment Management LLC

Voya Investment Management LLC raised its stake in State Street Corporation (NYSE:STT) by 15.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 819,096 shares of the asset manager’s stock after acquiring an additional 108,138 shares during the period. Voya Investment Management LLC’s holdings in State Street were worth $95,023,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in STT. Capital Analysts LLC grew its stake in State Street by 3,914.3% during the 1st quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock worth $25,000 after buying an additional 274 shares during the last quarter. AlphaCore Capital LLC grew its position in shares of State Street by 103.5% during the second quarter. AlphaCore Capital LLC now owns 468 shares of the asset manager’s stock worth $50,000 after acquiring an additional 238 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of State Street in the 2nd quarter worth about $52,000. CVA Family Office LLC lifted its position in State Street by 45.8% in the 2nd quarter. CVA Family Office LLC now owns 560 shares of the asset manager’s stock valued at $60,000 after purchasing an additional 176 shares during the last quarter. Finally, Soundwatch Capital LLC acquired a new position in State Street during the 2nd quarter valued at about $76,000. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

Shares of STT opened at $128.51 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.59. The firm’s 50 day moving average is $118.81 and its 200-day moving average is $112.69. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $131.36. The stock has a market capitalization of $35.89 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.18 and a beta of 1.44.

State Street (NYSE:STT) last released its earnings results on Friday, October 17th. The asset manager reported $2.78 EPS for the quarter, beating the consensus estimate of $2.57 by $0.21. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.43 billion. State Street had a net margin of 13.14% and a return on equity of 13.37%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.26 earnings per share. Equities research analysts anticipate that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, January 2nd. State Street’s dividend payout ratio is currently 35.56%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their price target on State Street from $130.00 to $136.00 and gave the company a “buy” rating in a report on Friday, October 24th. Morgan Stanley reissued an “overweight” rating and issued a $168.00 price target on shares of State Street in a research note on Tuesday. Evercore ISI upped their price objective on shares of State Street from $117.00 to $128.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Keefe, Bruyette & Woods raised their target price on shares of State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Finally, The Goldman Sachs Group upped their price target on shares of State Street from $109.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.00.

Insiders Place Their Bets

In related news, EVP Michael L. Richards sold 1,500 shares of State Street stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $117.24, for a total value of $175,860.00. Following the transaction, the executive vice president owned 38,626 shares of the company’s stock, valued at approximately $4,528,512.24. This trade represents a 3.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

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.