Country Trust Bank lifted its stake in State Street Corp (NYSE:STT) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 444,284 shares of the asset manager’s stock after purchasing an additional 1,428 shares during the quarter. State Street comprises 1.9% of Country Trust Bank’s portfolio, making the stock its 14th biggest holding. Country Trust Bank owned about 0.12% of State Street worth $43,367,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of STT. Zions Bancorporation raised its position in shares of State Street by 318.0% in the 3rd quarter. Zions Bancorporation now owns 1,045 shares of the asset manager’s stock worth $100,000 after acquiring an additional 795 shares in the last quarter. Sabal Trust CO bought a new position in shares of State Street in the 3rd quarter worth $201,000. Tiemann Investment Advisors LLC bought a new position in shares of State Street in the 3rd quarter worth $204,000. Trustmark National Bank Trust Department purchased a new position in State Street during the 3rd quarter worth $204,000. Finally, Janney Capital Management LLC purchased a new position in State Street during the 3rd quarter worth $209,000. Institutional investors own 88.18% of the company’s stock.
State Street Corp (STT) opened at $107.47 on Friday. The company has a market capitalization of $39,850.00, a price-to-earnings ratio of 20.51, a PEG ratio of 1.83 and a beta of 1.31. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.49. State Street Corp has a 52-week low of $75.08 and a 52-week high of $114.27.
State Street (NYSE:STT) last announced its quarterly earnings data on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.10). State Street had a net margin of 17.94% and a return on equity of 13.41%. The company had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the business posted $1.48 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. equities research analysts predict that State Street Corp will post 7.51 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Stockholders of record on Tuesday, January 2nd were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, December 29th. State Street’s dividend payout ratio (DPR) is currently 32.06%.
In other news, insider Andrew Erickson sold 354 shares of State Street stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $92.00, for a total transaction of $32,568.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.71% of the stock is currently owned by insiders.
Several research analysts recently weighed in on the company. Zacks Investment Research downgraded State Street from a “buy” rating to a “hold” rating and set a $109.00 target price on the stock. in a research note on Friday, January 5th. ValuEngine downgraded State Street from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Citigroup upgraded State Street from a “neutral” rating to a “buy” rating and set a $102.00 price target on the stock in a research note on Wednesday, January 10th. Morgan Stanley upped their target price on State Street from $105.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. Finally, Barclays upped their target price on State Street from $104.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. State Street currently has an average rating of “Buy” and a consensus target price of $106.69.
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About State Street
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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