Cwm LLC increased its stake in State Street Co. (NYSE: STT – Get a rating) by 31.4% in the first quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission. The company held 2,504 shares of the asset manager after acquiring an additional 599 shares during the quarter. Cwm LLC’s holdings in State Street were worth $218,000 at the end of the most recent reporting period.
A number of other major investors have also recently changed their stances in the company. Samalin Investment Counsel LLC increased its holdings in State Street by 5.0% in the fourth quarter. Samalin Investment Counsel LLC now owns 2,124 shares of the asset manager valued at $197,000 after acquiring 101 additional shares during the period. MMA Asset Management LLC increased its stake in State Street shares by 4.8% during the 4th quarter. MMA Asset Management LLC now owns 2,691 shares of the asset manager worth $250,000 after purchasing an additional 124 shares during the period. Quadrant Capital Group LLC increased its stake in State Street shares by 7.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,107 shares of the asset manager worth $196,000 after purchasing an additional 144 shares during the period. Checchi Capital Advisers LLC increased its stake in State Street shares by 3.9% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,864 shares of the asset manager worth $359,000 after purchasing an additional 145 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in State Street shares by 4.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 4,032 shares of the asset manager worth $375,000 after purchasing an additional 166 shares during the period. 91.48% of the shares are held by institutional investors.
Several research analysts have weighed in on the company recently. StockNews.com assumed coverage on State Street in a Thursday, March 31 research note. They set a “holding” rating for the company. Piper Sandler lowered its price target on State Street from $78.00 to $75.00 and set a “neutral” rating for the company in a Friday, July 1 research note. Royal Bank of Canada reduced its price target on State Street from $90.00 to $80.00 in a Tuesday, June 14 research note. Citigroup downgraded State Street from a “buy” rating to a “neutral” rating in a Monday, April 11 research rating. Finally, Wolfe Research downgraded State Street from an “outperform” rating to a “peer performance” rating and set a target price of $101.00 for the company. in a report on Thursday, March 31. Eight research analysts gave the stock a hold rating and four gave the stock a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $91.91.
Shares of State Street Action opened at $63.03 on Monday. The company has a 50-day moving average of $67.10 and a 200-day moving average of $81.43. State Street Co. has a 12-month low of $60.54 and a 12-month high of $104.87. The stock has a market capitalization of $23.14 billion, a price-to-earnings ratio of 8.54, a growth price-to-earnings ratio of 1.05 and a beta of 1.60. The company has a debt ratio of 0.57, a current ratio of 0.52 and a quick ratio of 0.52.
State Street (NYSE: STT – Get a rating) last announced its results on Thursday, April 14. The asset manager reported EPS of $1.59 for the quarter, beating consensus analyst estimates of $1.47 by $0.12. State Street had a return on equity of 11.59% and a net margin of 22.82%. The company posted revenue of $3.08 billion in the quarter, versus $3.03 billion expected by analysts. During the same period last year, the company posted EPS of $1.47. State Street’s revenue for the quarter increased 4.4% year over year. Equity research analysts expect State Street Co. to post earnings per share of 7.51 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 11. Investors of record on Friday, July 1 will receive a dividend of $0.57 per share. This represents a dividend of $2.28 on an annualized basis and a yield of 3.62%. The ex-dividend date is Thursday, June 30. State Street’s dividend payout ratio (DPR) is 30.89%.
State Street Profile (Get a rating)
State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The Company offers investment services products and services, including custody; product accounting; day-to-day pricing and administration; master trust and master custody; depository banking services; record keeping; finance management; foreign exchange, brokerage and other business services; enhanced securities finance and custody products; deposit and short-term investment facilities; loans and leasing; the outsourcing of investment manager and alternative investment management operations; performance, risk and compliance analysis; and financial data management to support institutional investors.
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