Jefferies Financial Group Inc. Has $6.84 Million Stake in State Street Corporation $STT

Jefferies Financial Group Inc. grew its stake in shares of State Street Corporation (NYSE:STT) by 138.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,996 shares of the asset manager’s stock after buying an additional 34,206 shares during the period. Jefferies Financial Group Inc.’s holdings in State Street were worth $6,844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of STT. True Wealth Design LLC increased its stake in shares of State Street by 166.3% in the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 158 shares during the last quarter. Flagship Wealth Advisors LLC bought a new position in State Street during the 3rd quarter worth approximately $35,000. SJS Investment Consulting Inc. boosted its stake in State Street by 2,142.9% during the 3rd quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock worth $36,000 after acquiring an additional 300 shares during the last quarter. Ameriflex Group Inc. grew its holdings in State Street by 102.5% during the third quarter. Ameriflex Group Inc. now owns 318 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 161 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in State Street by 38.2% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 94 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Stock Up 0.5%

Shares of STT stock opened at $121.67 on Tuesday. State Street Corporation has a 12-month low of $72.81 and a 12-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. The firm has a fifty day moving average of $129.41 and a 200-day moving average of $121.87. The company has a market capitalization of $33.91 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 1.06 and a beta of 1.43.

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

State Street Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on STT. The Goldman Sachs Group reiterated a “buy” rating on shares of State Street in a report on Tuesday, January 6th. Zacks Research cut shares of State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Wall Street Zen raised State Street from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Morgan Stanley reduced their target price on State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday, January 20th. Finally, TD Cowen reissued a “buy” rating on shares of State Street in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, State Street presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.83.

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.