State Street Corporation $STT Position Raised by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG lifted its position in shares of State Street Corporation (NYSE:STT) by 267.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,486 shares of the asset manager’s stock after acquiring an additional 8,362 shares during the period. J. Safra Sarasin Holding AG’s holdings in State Street were worth $1,332,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of STT. Norges Bank acquired a new position in State Street during the 2nd quarter valued at about $256,367,000. First Trust Advisors LP raised its holdings in shares of State Street by 39.0% during the second quarter. First Trust Advisors LP now owns 2,009,190 shares of the asset manager’s stock valued at $213,657,000 after buying an additional 564,202 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of State Street during the second quarter worth approximately $42,281,000. Invesco Ltd. grew its holdings 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 buying an additional 381,547 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in 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 valued at $283,343,000 after acquiring an additional 178,136 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Price Performance

Shares of NYSE STT opened at $128.12 on Thursday. State Street Corporation has a twelve month low of $72.81 and a twelve 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 company has a market capitalization of $35.78 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.12 and a beta of 1.43. The firm has a 50-day moving average of $126.91 and a two-hundred day moving average of $118.18.

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

State Street Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Friday, January 2nd were issued a $0.84 dividend. 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 is currently 35.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on STT. Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a research report on Wednesday, January 21st. Zacks Research downgraded 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 research report on Wednesday, January 7th. BMO Capital Markets started coverage on shares of State Street in a research report on Friday, October 3rd. They set an “outperform” rating and a $130.00 price target on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of State Street in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, State Street has a consensus 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.