Arizona State Retirement System Has $6.34 Million Stock Holdings in State Street Co. (NYSE:STT)

Arizona State Retirement System trimmed its holdings in shares of State Street Co. (NYSE:STTFree Report) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,613 shares of the asset manager’s stock after selling 1,562 shares during the period. Arizona State Retirement System’s holdings in State Street were worth $6,335,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. State of Wyoming lifted its stake in State Street by 51.3% in the 2nd quarter. State of Wyoming now owns 619 shares of the asset manager’s stock valued at $45,000 after purchasing an additional 210 shares during the last quarter. Covestor Ltd lifted its stake in State Street by 69.2% in the 1st quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 234 shares during the last quarter. IFP Advisors Inc lifted its stake in State Street by 24.9% in the 2nd quarter. IFP Advisors Inc now owns 733 shares of the asset manager’s stock valued at $54,000 after purchasing an additional 146 shares during the last quarter. Savior LLC lifted its stake in State Street by 90.4% in the 3rd quarter. Savior LLC now owns 857 shares of the asset manager’s stock valued at $57,000 after purchasing an additional 407 shares during the last quarter. Finally, MV Capital Management Inc. lifted its stake in State Street by 234.3% in the 2nd quarter. MV Capital Management Inc. now owns 916 shares of the asset manager’s stock valued at $67,000 after purchasing an additional 642 shares during the last quarter. 89.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of State Street from $66.00 to $65.00 in a research note on Wednesday, October 11th. Royal Bank of Canada raised their target price on shares of State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Wells Fargo & Company restated an “overweight” rating and set a $83.00 price objective on shares of State Street in a research report on Wednesday, December 6th. Keefe, Bruyette & Woods cut their price objective on shares of State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. Finally, Morgan Stanley raised their price objective on shares of State Street from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $81.83.

Get Our Latest Stock Analysis on STT

State Street Stock Up 0.0 %

Shares of STT opened at $74.86 on Wednesday. State Street Co. has a 12 month low of $62.78 and a 12 month high of $94.74. The firm’s 50 day moving average is $75.25 and its 200-day moving average is $70.83. The stock has a market capitalization of $23.10 billion, a PE ratio of 13.63, a P/E/G ratio of 1.51 and a beta of 1.54. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 0.86.

State Street (NYSE:STTGet Free Report) last announced its earnings results on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, topping the consensus estimate of $1.83 by $0.21. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.95 billion. State Street had a net margin of 10.59% and a return on equity of 11.86%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $2.07 earnings per share. Equities research analysts forecast that State Street Co. will post 7.79 EPS for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Tuesday, January 2nd were paid a $0.69 dividend. The ex-dividend date was Friday, December 29th. This represents a $2.76 dividend on an annualized basis and a yield of 3.69%. State Street’s dividend payout ratio (DPR) is 50.27%.

About State Street

(Free Report)

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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