OVERSEA CHINESE BANKING Corp Ltd trimmed its stake in shares of State Street Corporation (NYSE:STT – Free Report) by 41.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,000 shares of the asset manager’s stock after selling 14,306 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in State Street were worth $2,580,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Regents of The University of California acquired a new position in shares of State Street during the 3rd quarter worth about $324,576,000. Jones Financial Companies Lllp boosted its position in shares of State Street by 11.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 208,600 shares of the asset manager’s stock worth $24,139,000 after acquiring an additional 21,810 shares in the last quarter. Machina Capital S.A.S. acquired a new position in shares of State Street during the 3rd quarter worth about $2,622,000. AE Wealth Management LLC acquired a new position in shares of State Street during the 3rd quarter worth about $6,611,000. Finally, Impax Asset Management Group plc boosted its position in shares of State Street by 49.2% during the 3rd quarter. Impax Asset Management Group plc now owns 127,984 shares of the asset manager’s stock worth $14,847,000 after acquiring an additional 42,198 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on State Street from $155.00 to $166.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup assumed coverage on State Street in a research report on Monday, February 23rd. They set a “buy” rating and a $150.00 price objective for the company. Bank of America raised State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price objective for the company in a research report on Monday, April 6th. Keefe, Bruyette & Woods upped their price objective on State Street from $157.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Wall Street Zen raised State Street from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, State Street presently has an average rating of “Moderate Buy” and a consensus target price of $154.00.
State Street Stock Down 0.8%
Shares of NYSE STT opened at $152.28 on Thursday. The stock has a market cap of $42.19 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.96 and a beta of 1.37. The company has a quick ratio of 0.61, a current ratio of 0.57 and a debt-to-equity ratio of 1.04. State Street Corporation has a 52-week low of $85.05 and a 52-week high of $156.18. The business has a 50-day moving average price of $129.85 and a 200 day moving average price of $125.74.
State Street (NYSE:STT – Get Free Report) last announced its earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.20. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.59 billion. State Street had a return on equity of 14.22% and a net margin of 13.47%.The business’s revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.04 EPS. Equities research analysts forecast that State Street Corporation will post 12.21 earnings per share for the current year.
State Street Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, April 13th. Investors of record on Wednesday, April 1st were given a $0.84 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.2%. State Street’s dividend payout ratio is 34.08%.
Insider Activity
In related news, EVP John Plansky sold 16,100 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total value of $2,001,552.00. Following the completion of the sale, the executive vice president directly owned 56,162 shares of the company’s stock, valued at $6,982,059.84. This represents a 22.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.
Key Headlines Impacting State Street
Here are the key news stories impacting State Street this week:
- Positive Sentiment: Earnings-estimate revisions are moving higher for State Street, suggesting analysts expect continued profit momentum — a near-term positive catalyst. Earnings Estimates Moving Higher for State Street (STT): Time to Buy?
- Positive Sentiment: Keefe, Bruyette & Woods raised its price target to $175, signaling upside vs. current levels and supporting investor optimism. Keefe, Bruyette & Woods Boosts State Street (NYSE:STT) Price Target to $175.00
- Positive Sentiment: Momentum and Q1 commentary: observers note STT rallied recently (up ~4.3% over a week) and some analysts described Q1 as a “blockbuster,” reflecting strong EPS/revenue beats that underpin the bullish case. State Street Corporation (STT) Is Up 4.31% in One Week: What You Should Know
- Neutral Sentiment: Analyst coverage is mixed: several outlets highlight conflicting views across brokerages (some Holds, some constructive), leaving consensus direction unclear for investors. Analysts’ Opinions Are Mixed on These Financial Stocks: Simmons 1st Nat’l (SFNC) and State Street (STT)
- Neutral Sentiment: State Street’s asset-management units have trimmed/ceased “substantial holder” positions in several foreign names — routine portfolio moves that are unlikely to materially affect STT’s fundamentals but may show portfolio flow activity. State Street Exits Substantial Holder Position in Washington H. Soul Pattinson
- Negative Sentiment: Bank of America (via coverage reported on TipRanks) reiterated a Hold, noting that while near-term delivery is solid, a valuation re-rating limits upside — a cautionary signal that can cap multiple expansion. State Street: Solid Near‑term Delivery but Valuation Re‑Rating Leaves Risk‑Reward Balanced at Hold
- Negative Sentiment: RBC Capital issued a Hold on STT, reinforcing the cautious theme among some brokers and contributing to today’s selling pressure. State Street (STT) Receives a Hold from RBC Capital
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.
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