State Street Corporation $STT Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its position in shares of State Street Corporation (NYSE:STT) by 8.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,262 shares of the asset manager’s stock after acquiring an additional 5,397 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in State Street were worth $7,919,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Brighton Jones LLC bought a new position in shares of State Street in the fourth quarter worth $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in State Street by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock worth $2,885,000 after purchasing an additional 918 shares during the period. NewEdge Advisors LLC grew its position in State Street by 105.2% in the 1st quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock valued at $913,000 after buying an additional 5,226 shares in the last quarter. Empowered Funds LLC increased its stake in State Street by 220.1% during the 1st quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock valued at $2,065,000 after buying an additional 15,996 shares during the period. Finally, Woodline Partners LP increased its stake in State Street by 38.4% during the 1st quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock valued at $2,182,000 after buying an additional 6,767 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Trading Down 0.5%

NYSE:STT opened at $130.74 on Friday. The company’s 50 day moving average is $127.60 and its 200-day moving average is $118.53. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. State Street Corporation has a 12 month low of $72.81 and a 12 month high of $137.05. The firm has a market cap of $36.52 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.15 and a beta of 1.43.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 EPS 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 business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the business earned $2.60 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities analysts anticipate that State Street Corporation will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Friday, January 2nd were given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 35.71%.

Wall Street Analyst Weigh In

STT has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price objective on State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 20th. TD Cowen reissued a “buy” rating on shares of State Street in a report on Wednesday, January 7th. Loop Capital set a $144.00 target price on shares of State Street in a research note on Tuesday, January 6th. Zacks Research cut shares of State Street from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Finally, Truist Financial set a $136.00 price target on State Street in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.