LaFleur & Godfrey LLC Invests $1.16 Million in State Street Corporation $STT

LaFleur & Godfrey LLC acquired a new stake in shares of State Street Corporation (NYSE:STT) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 9,955 shares of the asset manager’s stock, valued at approximately $1,155,000.

Other large investors also recently modified their holdings of the company. Brown Advisory Inc. boosted its stake in State Street by 0.5% in the second 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 in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of State Street by 38.2% in the 3rd 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. Global Retirement Partners LLC lifted its holdings in shares of State Street by 7.7% in the 3rd quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock worth $171,000 after acquiring an additional 105 shares during the last quarter. Security National Bank of SO Dak boosted its stake in shares of State Street by 0.5% in the 2nd quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock valued at $2,289,000 after purchasing an additional 105 shares in the last quarter. Finally, SYM FINANCIAL Corp grew its holdings in shares of State Street by 4.9% during the 3rd quarter. SYM FINANCIAL Corp now owns 2,586 shares of the asset manager’s stock valued at $300,000 after purchasing an additional 120 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Trading Up 0.0%

STT opened at $127.90 on Monday. State Street Corporation has a one year low of $72.81 and a one year high of $137.05. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61. The business has a 50 day simple moving average of $130.09 and a two-hundred day simple moving average of $120.68. The firm has a market capitalization of $35.65 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.12 and a beta of 1.43.

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

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, April 1st. State Street’s payout ratio is presently 35.71%.

Wall Street Analyst Weigh In

STT has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of State Street in a research note on Wednesday, January 21st. Wall Street Zen raised State Street from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Truist Financial set a $136.00 price target on State Street in a research report on Tuesday, January 20th. Loop Capital set a $144.00 price target on State Street in a research note on Tuesday, January 6th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, State Street has a consensus rating of “Moderate Buy” and an average target price of $135.83.

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.