SG Americas Securities LLC Raises Position in State Street Corporation $STT

SG Americas Securities LLC lifted its stake in State Street Corporation (NYSE:STT) by 938.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 265,386 shares of the asset manager’s stock after buying an additional 239,831 shares during the period. SG Americas Securities LLC’s holdings in State Street were worth $34,237,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. True Wealth Design LLC raised its holdings in shares of State Street by 166.3% during the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after buying an additional 158 shares during the period. JPL Wealth Management LLC purchased a new position in State Street in the 3rd quarter worth approximately $29,000. Flagship Wealth Advisors LLC purchased a new position in State Street in the 3rd quarter worth approximately $35,000. Measured Wealth Private Client Group LLC acquired a new stake in State Street in the third quarter valued at approximately $35,000. Finally, SJS Investment Consulting Inc. grew its position in State Street by 2,142.9% in the third quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Price Performance

STT stock opened at $126.91 on Thursday. The stock’s 50 day moving average is $127.24 and its two-hundred day moving average is $122.52. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $137.05. The company has a market capitalization of $35.37 billion, a PE ratio of 13.49, a P/E/G ratio of 1.11 and a beta of 1.43. 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 released its earnings results on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, beating 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 company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the prior year, the business posted $2.60 EPS. The business’s revenue was up 7.5% on a year-over-year basis. Analysts predict that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st will be paid 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 is Wednesday, April 1st. State Street’s dividend payout ratio is 35.71%.

Insider Buying and Selling

In other State Street news, EVP John Plansky sold 16,100 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the completion of the transaction, the executive vice president directly owned 56,162 shares of the company’s stock, valued at $6,982,059.84. This trade represents a 22.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

STT has been the topic of a number of recent research reports. Morgan Stanley reduced their target price on shares of State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of State Street in a report on Tuesday, January 6th. Zacks Research downgraded shares of State Street from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Wall Street Zen upgraded shares of State Street from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Truist Financial set a $136.00 price objective on shares of State Street in a research report on Tuesday, January 20th. One equities 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 stock. According to MarketBeat, State Street presently has an average rating of “Moderate Buy” and a consensus target price of $135.83.

About State Street

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.