IQ EQ FUND MANAGEMENT IRELAND Ltd Has $724,000 Stock Position in State Street Corporation $STT

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its holdings in shares of State Street Corporation (NYSE:STT) by 62.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,242 shares of the asset manager’s stock after selling 10,461 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in State Street were worth $724,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Advisory Inc. lifted its holdings in State Street by 0.5% during the 2nd quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock worth $1,832,000 after buying an additional 93 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of State Street by 38.2% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after acquiring an additional 94 shares during the last quarter. Security National Bank of SO Dak boosted its holdings in State Street by 0.5% in the second quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock valued at $2,289,000 after acquiring an additional 105 shares during the last quarter. Global Retirement Partners LLC increased its position in State Street by 7.7% during the 3rd quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock valued at $171,000 after purchasing an additional 105 shares during the period. Finally, Harbour Investments Inc. raised its holdings in State Street by 11.7% during the 2nd quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock worth $108,000 after purchasing an additional 106 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on STT. Zacks Research lowered shares of State Street from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Morgan Stanley cut their price target 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 price target on State Street in a report on Tuesday, January 20th. Loop Capital set a $144.00 price objective on State Street in a research note on Tuesday, January 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of State Street in a research note on Tuesday, January 6th. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $135.83.

State Street Trading Up 2.8%

Shares of State Street stock opened at $132.34 on Friday. The stock has a market capitalization of $36.96 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 1.16 and a beta of 1.43. State Street Corporation has a 52 week low of $72.81 and a 52 week high of $137.05. The stock has a 50 day moving average price of $129.00 and a two-hundred day moving average price of $119.35. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.61.

State Street (NYSE:STT) last issued its earnings results 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 company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period last year, the business earned $2.60 EPS. State Street’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts anticipate that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 12th. Stockholders of record on Friday, January 2nd were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, January 2nd. State Street’s dividend payout ratio (DPR) is currently 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.