Vinva Investment Management Ltd Purchases 15,047 Shares of State Street Corporation $STT

Vinva Investment Management Ltd lifted its position in shares of State Street Corporation (NYSE:STT) by 10.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,548 shares of the asset manager’s stock after purchasing an additional 15,047 shares during the period. Vinva Investment Management Ltd’s holdings in State Street were worth $18,238,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Regents of The University of California purchased a new stake in State Street in the 3rd quarter worth approximately $324,576,000. Jones Financial Companies Lllp grew its position in shares of State Street by 11.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 208,600 shares of the asset manager’s stock worth $24,139,000 after buying an additional 21,810 shares during the last quarter. Machina Capital S.A.S. purchased a new position in shares of State Street during the third quarter valued at approximately $2,622,000. AE Wealth Management LLC purchased a new position in shares of State Street during the third quarter valued at approximately $6,611,000. Finally, Impax Asset Management Group plc raised its holdings in shares of State Street by 49.2% during the third quarter. Impax Asset Management Group plc now owns 127,984 shares of the asset manager’s stock valued at $14,847,000 after acquiring an additional 42,198 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of research analyst reports. Citigroup initiated coverage on shares of State Street in a report on Monday, February 23rd. They issued a “buy” rating and a $150.00 price target on the stock. Truist Financial set a $136.00 price objective on shares of State Street in a report on Tuesday, January 20th. TD Cowen reaffirmed a “buy” rating on shares of State Street in a research report on Wednesday, January 7th. Morgan Stanley cut their target price on shares of State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. Finally, Zacks Research cut shares of State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, State Street currently has a consensus rating of “Moderate Buy” and an average target price of $135.83.

State Street Trading Down 3.4%

NYSE STT opened at $120.85 on Friday. The firm has a market capitalization of $33.68 billion, a PE ratio of 12.84, a P/E/G ratio of 1.06 and a beta of 1.43. The stock’s 50 day moving average is $129.61 and its 200 day moving average is $121.73. State Street Corporation has a twelve month low of $72.81 and a twelve month high of $137.05. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.15. State Street had a return on equity of 13.46% and a net margin of 13.02%.The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the company earned $2.60 earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. Research analysts forecast that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Wednesday, April 1st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, April 1st. State Street’s dividend payout ratio (DPR) is presently 35.71%.

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.