Toronto Dominion Bank lifted its holdings in State Street Corp (NYSE:STT) by 12.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,773 shares of the asset manager’s stock after acquiring an additional 17,951 shares during the quarter. Toronto Dominion Bank’s holdings in State Street were worth $15,693,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in STT. Gotham Asset Management LLC acquired a new position in shares of State Street in the 2nd quarter worth approximately $208,000. Cubist Systematic Strategies LLC boosted its holdings in shares of State Street by 32.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,484 shares of the asset manager’s stock worth $672,000 after acquiring an additional 1,817 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of State Street by 20.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 27,220 shares of the asset manager’s stock worth $2,443,000 after acquiring an additional 4,602 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in State Street in the 2nd quarter worth approximately $616,000. Finally, Perpetual Ltd bought a new position in State Street in the 2nd quarter worth approximately $1,673,000. 88.46% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of State Street from $114.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. ValuEngine upgraded shares of State Street from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded shares of State Street from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a research report on Thursday, January 25th. Keefe, Bruyette & Woods set a $120.00 price objective on shares of State Street and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Finally, Bank of America boosted their price objective on shares of State Street from $108.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $106.69.
State Street (NYSE:STT) last issued its earnings results on Tuesday, January 23rd. The asset manager reported $1.61 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.10). The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.98 billion. State Street had a net margin of 17.94% and a return on equity of 13.41%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 EPS. equities research analysts forecast that State Street Corp will post 7.62 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Friday, December 29th. State Street’s payout ratio is 32.12%.
State Street Company Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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