Nisa Investment Advisors LLC Grows Stock Holdings in State Street Corporation $STT

Nisa Investment Advisors LLC raised its stake in State Street Corporation (NYSE:STT) by 53.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 172,267 shares of the asset manager’s stock after acquiring an additional 59,659 shares during the period. Nisa Investment Advisors LLC owned approximately 0.06% of State Street worth $19,985,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of STT. True Wealth Design LLC grew its position in State Street by 166.3% during the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 158 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in shares of State Street by 2,142.9% during the third quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock valued at $36,000 after buying an additional 300 shares during the last quarter. City Holding Co. bought a new stake in shares of State Street in the third quarter worth approximately $47,000. AlphaCore Capital LLC boosted its holdings in State Street by 103.5% in the second quarter. AlphaCore Capital LLC now owns 468 shares of the asset manager’s stock worth $50,000 after purchasing an additional 238 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in State Street in the second quarter worth approximately $52,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Trading Down 0.3%

STT stock opened at $132.45 on Friday. The company has a market capitalization of $36.99 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.89 and a beta of 1.43. The business has a 50 day simple moving average of $123.68 and a two-hundred day simple moving average of $116.17. State Street Corporation has a 1-year low of $72.81 and a 1-year high of $134.67. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.59.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, October 17th. The asset manager reported $2.78 EPS for the quarter, topping the consensus estimate of $2.57 by $0.21. State Street had a net margin of 13.14% and a return on equity of 13.37%. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the previous year, the company earned $2.26 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. Research analysts anticipate that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, January 2nd. State Street’s dividend payout ratio is 35.56%.

Insider Transactions at State Street

In other State Street news, EVP Michael L. Richards sold 1,500 shares of the stock in a transaction on Monday, October 27th. The shares were sold at an average price of $117.24, for a total transaction of $175,860.00. Following the completion of the transaction, the executive vice president owned 38,626 shares in the company, valued at $4,528,512.24. This trade represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

STT has been the topic of several research analyst reports. BMO Capital Markets began coverage on State Street in a report on Friday, October 3rd. They set an “outperform” rating and a $130.00 price target on the stock. Wall Street Zen downgraded State Street from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Weiss Ratings restated a “buy (b)” rating on shares of State Street in a research note on Wednesday, October 8th. Evercore ISI upped their price target on shares of State Street from $117.00 to $128.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Finally, Wells Fargo & Company upped their price objective on State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $133.77.

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.