Ibex Wealth Advisors Takes Position in State Street Corporation $STT

Ibex Wealth Advisors purchased a new position in shares of State Street Corporation (NYSE:STT) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,199 shares of the asset manager’s stock, valued at approximately $603,000.

Several other large investors have also made changes to their positions in the company. True Wealth Design LLC raised its position in State Street by 166.3% during the third quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 158 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new stake in shares of State Street in the 3rd quarter valued at $35,000. SJS Investment Consulting Inc. increased its stake in shares of State Street by 2,142.9% in the 3rd quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of State Street by 38.2% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 94 shares during the last quarter. Finally, City Holding Co. acquired a new position in shares of State Street during the 3rd quarter worth $47,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on STT. TD Cowen reaffirmed a “buy” rating on shares of State Street in a research note on Wednesday, January 7th. Morgan Stanley reduced their price target on shares of State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. Loop Capital set a $144.00 price objective on shares of State Street in a research report 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. Finally, Citigroup initiated coverage on shares of State Street in a research report on Monday, February 23rd. They issued a “buy” rating and a $150.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $135.83.

State Street Stock Performance

Shares of State Street stock opened at $128.42 on Friday. The stock has a market cap of $35.79 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 1.13 and a beta of 1.43. State Street Corporation has a twelve month low of $72.81 and a twelve month high of $137.05. The company’s fifty day moving average is $130.19 and its 200 day moving average is $121.25. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last announced its earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.15. State Street had a return on equity of 13.46% and a net margin of 13.02%.The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the company earned $2.60 EPS. State Street’s revenue for the quarter was up 7.5% compared to the same quarter last year. Sell-side analysts forecast 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 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 dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, April 1st. State Street’s payout ratio is currently 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.