LaFleur & Godfrey LLC Purchases New Position in State Street Corporation $STT

LaFleur & Godfrey LLC acquired a new position in State Street Corporation (NYSE:STT) in the 3rd quarter, Holdings Channel reports. The firm acquired 9,955 shares of the asset manager’s stock, valued at approximately $1,155,000.

Several other large investors have also bought and sold shares of STT. Brighton Jones LLC purchased a new position in shares of State Street in the 4th quarter valued at approximately $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in State Street by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock worth $2,885,000 after purchasing an additional 918 shares in the last quarter. NewEdge Advisors LLC lifted its position in State Street by 105.2% during the first quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock valued at $913,000 after buying an additional 5,226 shares during the period. Empowered Funds LLC boosted its holdings in shares of State Street by 220.1% during the 1st quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock valued at $2,065,000 after buying an additional 15,996 shares in the last quarter. Finally, Woodline Partners LP boosted its holdings in shares of State Street by 38.4% during the 1st quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock valued at $2,182,000 after buying an additional 6,767 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

State Street Trading Up 0.0%

Shares of NYSE STT opened at $127.90 on Monday. The firm’s 50 day moving average price is $130.09 and its 200-day moving average price is $120.68. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $137.05. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. The company has a market cap of $35.65 billion, a PE ratio of 13.59, a P/E/G 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 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 13.02% and a return on equity of 13.46%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.60 EPS. On average, equities research analysts expect that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Shareholders 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 (DPR) is presently 35.71%.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of recent research reports. TD Cowen reissued a “buy” rating on shares of State Street in a research report on Wednesday, January 7th. Wall Street Zen raised shares of State Street from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Morgan Stanley lowered their target price on shares of State Street from $168.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, January 20th. Truist Financial set a $136.00 price target on State Street in a research note on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of State Street in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, State Street presently has a consensus rating of “Moderate Buy” and an average target price of $135.83.

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.