Jupiter Asset Management Ltd. Buys Shares of 535,228 State Street Corporation $STT

Jupiter Asset Management Ltd. purchased a new position in shares of State Street Corporation (NYSE:STT) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 535,228 shares of the asset manager’s stock, valued at approximately $62,092,000.

Other institutional investors have also bought and sold shares of the company. Brown Advisory Inc. increased its position in State Street by 0.5% in the second quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock worth $1,832,000 after buying an additional 93 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in 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 worth $39,000 after acquiring an additional 94 shares during the last quarter. Global Retirement Partners LLC raised its stake in State Street by 7.7% in the 3rd quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock valued at $171,000 after acquiring an additional 105 shares during the period. Security National Bank of SO Dak lifted its holdings in State Street by 0.5% during the second quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock valued at $2,289,000 after purchasing an additional 105 shares during the last quarter. Finally, Harbour Investments Inc. boosted its position in State Street by 11.7% during the second quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock worth $108,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on STT. Zacks Research lowered shares of State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of State Street in a research note on Tuesday, January 6th. Wall Street Zen upgraded State Street from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. TD Cowen reiterated a “buy” rating on shares of State Street in a research report on Wednesday, January 7th. Finally, Citigroup increased their price objective on State Street from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, December 30th. One investment 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 given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.83.

State Street Price Performance

Shares of NYSE STT opened at $127.82 on Friday. The stock’s 50-day simple moving average is $130.08 and its two-hundred day simple moving average is $120.41. State Street Corporation has a twelve month low of $72.81 and a twelve month high of $137.05. The firm has a market capitalization of $35.70 billion, a P/E ratio of 13.58, a P/E/G ratio of 1.14 and a beta of 1.43. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last issued its quarterly earnings data 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 company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.57 billion. State Street had a return on equity of 13.46% and a net margin of 13.02%.State Street’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.60 earnings per share. As a group, equities analysts anticipate that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Wednesday, April 1st will be issued a $0.84 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. State Street’s dividend payout ratio is presently 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.