State Street Corporation $STT Shares Bought by L & S Advisors Inc

L & S Advisors Inc grew its holdings in State Street Corporation (NYSE:STT) by 30.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 101,378 shares of the asset manager’s stock after buying an additional 23,612 shares during the period. State Street accounts for about 1.1% of L & S Advisors Inc’s holdings, making the stock its 24th biggest holding. L & S Advisors Inc’s holdings in State Street were worth $11,761,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Invesco Ltd. lifted its stake in State Street by 4.7% in the 2nd quarter. Invesco Ltd. now owns 8,566,237 shares of the asset manager’s stock worth $910,934,000 after purchasing an additional 381,547 shares in the last quarter. Dodge & Cox boosted its stake in State Street by 1.1% during the second quarter. Dodge & Cox now owns 7,412,414 shares of the asset manager’s stock worth $788,236,000 after buying an additional 80,855 shares during the last quarter. Geode Capital Management LLC grew its holdings in State Street by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 7,412,130 shares of the asset manager’s stock valued at $784,930,000 after buying an additional 27,098 shares in the last quarter. Regents of The University of California purchased a new stake in State Street in the 3rd quarter valued at $324,576,000. Finally, Nordea Investment Management AB increased its stake in shares of State Street by 7.8% in the 3rd quarter. Nordea Investment Management AB now owns 2,451,703 shares of the asset manager’s stock worth $283,343,000 after acquiring an additional 178,136 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of analyst reports. Zacks Research lowered shares of State Street from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. TD Cowen reiterated a “buy” rating on shares of State Street in a report on Wednesday, January 7th. The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a research note on Tuesday, January 6th. 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 report on Tuesday, January 20th. Finally, Loop Capital set a $144.00 price objective on State Street in a research report on Tuesday, January 6th. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.83.

State Street Price Performance

STT stock opened at $129.90 on Thursday. The company has a market capitalization of $36.28 billion, a PE ratio of 13.80, a P/E/G ratio of 1.12 and a beta of 1.43. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $137.05. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. The business’s fifty day moving average price is $130.12 and its 200 day moving average price is $120.36.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, topping the consensus estimate of $2.82 by $0.15. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.57 billion. State Street had a net margin of 13.02% and a return on equity of 13.46%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.60 earnings per share. On average, sell-side analysts anticipate that State Street Corporation will post 9.68 EPS for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Friday, January 2nd were given a $0.84 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. State Street’s dividend 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.