Todd Asset Management LLC Sells 64,306 Shares of State Street Corporation $STT

Todd Asset Management LLC cut its holdings in shares of State Street Corporation (NYSE:STT) by 22.6% in the 3rd quarter, Holdings Channel reports. The firm owned 220,639 shares of the asset manager’s stock after selling 64,306 shares during the period. Todd Asset Management LLC’s holdings in State Street were worth $25,596,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Brown Advisory Inc. lifted its position in shares of State Street by 0.5% during the 2nd quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock worth $1,832,000 after buying an additional 93 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in State Street by 38.2% during 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 in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of State Street by 7.7% in the third quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock worth $171,000 after acquiring an additional 105 shares during the last quarter. Security National Bank of SO Dak boosted its stake in shares of State Street by 0.5% in the 2nd quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock valued at $2,289,000 after purchasing an additional 105 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of State Street by 11.7% during the 2nd quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock valued at $108,000 after purchasing an additional 106 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Price Performance

Shares of STT opened at $127.89 on Monday. The business has a 50-day moving average of $129.98 and a 200-day moving average of $120.04. 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 price-to-earnings ratio of 13.59, a price-to-earnings-growth 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 business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the firm posted $2.60 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, equities research analysts anticipate that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis 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 Analysts Forecast Growth

Several brokerages recently commented on STT. Morgan Stanley dropped 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 note on Tuesday, January 20th. Weiss Ratings reissued a “buy (b)” rating on shares of State Street in a report on Wednesday, January 21st. Citigroup upped their target price on State Street from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, December 30th. Truist Financial set a $136.00 target price on State Street in a research report on Tuesday, January 20th. Finally, Wall Street Zen raised State Street from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average 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.