State Street Corporation $STT Shares Acquired by Natixis Advisors LLC

Natixis Advisors LLC increased its position in shares of State Street Corporation (NYSE:STT) by 23.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 292,526 shares of the asset manager’s stock after purchasing an additional 55,558 shares during the quarter. Natixis Advisors LLC’s holdings in State Street were worth $33,936,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in STT. Regents of The University of California acquired a new position in State Street during the 3rd quarter valued at approximately $324,576,000. Jones Financial Companies Lllp increased its position in State Street by 11.7% in the third 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 period. Machina Capital S.A.S. acquired a new stake in State Street in the third quarter worth $2,622,000. AE Wealth Management LLC bought a new stake in State Street in the third quarter valued at $6,611,000. Finally, Impax Asset Management Group plc lifted its stake in State Street by 49.2% in 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 buying an additional 42,198 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. TD Cowen restated a “buy” rating on shares of State Street in a research report on Wednesday, January 7th. Morgan Stanley cut their price objective on shares of State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. Truist Financial set a $136.00 target price on shares of State Street in a research note on Tuesday, January 20th. Loop Capital set a $144.00 target price on shares of State Street in a research report on Tuesday, January 6th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of State Street in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.83.

State Street Price Performance

Shares of STT opened at $122.50 on Wednesday. State Street Corporation has a one year low of $72.81 and a one year high of $137.05. The stock’s fifty day moving average is $129.25 and its 200-day moving average is $121.92. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market capitalization of $34.14 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 1.07 and a beta of 1.43.

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

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Wednesday, April 1st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, April 1st. State Street’s dividend payout ratio is currently 35.71%.

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.