State of New Jersey Common Pension Fund D Buys 4,843 Shares of State Street Corporation $STT

State of New Jersey Common Pension Fund D raised its stake in shares of State Street Corporation (NYSE:STT) by 5.3% in the third quarter, Holdings Channel reports. The institutional investor owned 95,390 shares of the asset manager’s stock after buying an additional 4,843 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in State Street were worth $11,066,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of STT. True Wealth Design LLC boosted its position in shares of State Street by 166.3% in the third quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 158 shares during the period. Flagship Wealth Advisors LLC purchased a new stake in State Street in the 3rd quarter worth approximately $35,000. SJS Investment Consulting Inc. boosted its holdings in 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 period. Annis Gardner Whiting Capital Advisors LLC boosted 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 valued at $39,000 after purchasing an additional 94 shares during the period. Finally, Root Financial Partners LLC purchased a new position in shares of State Street during the 3rd quarter valued at $47,000. 87.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on STT shares. Loop Capital set a $144.00 price objective on State Street in a research report on Tuesday, January 6th. TD Cowen restated a “buy” rating on shares of State Street in a research note on Wednesday, January 7th. Wells Fargo & Company lifted their price target on State Street from $121.00 to $129.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a report on Tuesday, January 6th. Finally, Morgan Stanley decreased their price objective 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. One 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.83.

State Street Trading Up 1.3%

Shares of STT stock opened at $127.89 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The business has a 50-day moving average price of $130.06 and a two-hundred day moving average price of $120.15. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $137.05. The firm has a market cap of $35.72 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, beating the consensus estimate of $2.82 by $0.15. The firm had revenue of $3.67 billion for 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%.The company’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.60 EPS. Equities analysts anticipate that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Friday, January 2nd were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. State Street’s dividend payout ratio (DPR) is 35.71%.

State Street Company 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.