State Street Corporation $STT Shares Bought by First Trust Advisors LP

First Trust Advisors LP lifted its stake in shares of State Street Corporation (NYSE:STT) by 36.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,747,646 shares of the asset manager’s stock after acquiring an additional 738,456 shares during the quarter. First Trust Advisors LP’s holdings in State Street were worth $318,754,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of STT. HUB Investment Partners LLC acquired a new position in shares of State Street in the 3rd quarter valued at $289,000. Aptus Capital Advisors LLC grew its position in State Street by 8.7% during the third quarter. Aptus Capital Advisors LLC now owns 2,883 shares of the asset manager’s stock valued at $334,000 after purchasing an additional 231 shares in the last quarter. Barclays PLC increased its stake in shares of State Street by 27.7% in the third quarter. Barclays PLC now owns 1,576,332 shares of the asset manager’s stock worth $182,870,000 after acquiring an additional 342,344 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in State Street by 139.5% in the third quarter. Crossmark Global Holdings Inc. now owns 36,715 shares of the asset manager’s stock valued at $4,259,000 after purchasing an additional 21,383 shares in the last quarter. Finally, KCM Investment Advisors LLC purchased a new position in State Street in the third quarter valued at about $209,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on STT. Loop Capital set a $144.00 price target on State Street in a research note on Tuesday, January 6th. The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a research note on Tuesday, January 6th. Citigroup initiated coverage on State Street in a research note on Monday, February 23rd. They issued a “buy” rating and a $150.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of State Street in a report on Wednesday, January 21st. Finally, TD Cowen reaffirmed a “buy” rating on shares of State Street in a research report on Wednesday, January 7th. One 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 assigned a Sell rating to the stock. According to MarketBeat.com, State Street presently has an average rating of “Moderate Buy” and a consensus target price of $135.83.

State Street Stock Performance

NYSE:STT opened at $120.85 on Friday. The firm has a market capitalization of $33.68 billion, a PE ratio of 12.84, a PEG ratio of 1.10 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. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04. The firm’s fifty day simple moving average is $129.61 and its 200 day simple moving average is $121.66.

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, topping 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 firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the business earned $2.60 EPS. The business’s revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts anticipate that State Street Corporation will post 9.68 EPS for the current 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. The ex-dividend date is Wednesday, April 1st. This represents a $3.36 annualized dividend and a yield of 2.8%. State Street’s dividend payout ratio is presently 35.71%.

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.