WINTON GROUP Ltd Purchases New Holdings in State Street Corporation $STT

WINTON GROUP Ltd acquired a new stake in shares of State Street Corporation (NYSE:STT) in the 3rd quarter, HoldingsChannel reports. The firm acquired 44,951 shares of the asset manager’s stock, valued at approximately $5,215,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Invesco Ltd. increased 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 valued at $910,934,000 after purchasing an additional 381,547 shares during the period. Dodge & Cox increased its stake in State Street by 1.1% in the 2nd quarter. Dodge & Cox now owns 7,412,414 shares of the asset manager’s stock valued at $788,236,000 after buying an additional 80,855 shares during the period. Geode Capital Management LLC raised its position in State Street by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 7,412,130 shares of the asset manager’s stock worth $784,930,000 after buying an additional 27,098 shares during the last quarter. Regents of The University of California acquired a new stake in shares of State Street in the 3rd quarter worth $324,576,000. Finally, First Trust Advisors LP boosted its holdings in shares of State Street by 36.8% in the third quarter. First Trust Advisors LP now owns 2,747,646 shares of the asset manager’s stock valued at $318,754,000 after acquiring an additional 738,456 shares in the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STT has been the subject of several analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of State Street in a report on Wednesday, January 21st. Loop Capital set a $144.00 target price on State Street in a research report on Tuesday, January 6th. Zacks Research downgraded State Street from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Finally, TD Cowen reissued a “buy” rating on shares of State Street in a report on Wednesday, January 7th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.83.

State Street Stock Up 0.5%

STT opened at $121.67 on Tuesday. The business’s fifty day moving average is $129.41 and its two-hundred day moving average is $121.87. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. The company has a market cap of $33.91 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.06 and a beta of 1.43. State Street Corporation has a one year low of $72.81 and a one year high of $137.05.

State Street (NYSE:STT) last announced its quarterly 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. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.57 billion. State Street had a return on equity of 13.46% and a net margin of 13.02%.The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $2.60 earnings per share. Analysts anticipate that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Wednesday, April 1st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, April 1st. State Street’s dividend payout ratio is presently 35.71%.

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.