Ibex Wealth Advisors Invests $603,000 in State Street Corporation $STT

Ibex Wealth Advisors bought a new stake in State Street Corporation (NYSE:STT) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,199 shares of the asset manager’s stock, valued at approximately $603,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC raised its stake in State Street by 166.3% in the third quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after buying an additional 158 shares during the period. Flagship Wealth Advisors LLC acquired a new position in shares of State Street during the 3rd quarter worth approximately $35,000. SJS Investment Consulting Inc. raised its stake in State Street by 2,142.9% in the 3rd quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 300 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in State Street by 38.2% during the 3rd 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 during the last quarter. Finally, City Holding Co. acquired a new stake in State Street during the 3rd quarter valued at $47,000. Institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

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

State Street Stock Performance

Shares of NYSE:STT opened at $128.42 on Friday. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $137.05. The company’s 50 day moving average price is $130.19 and its two-hundred day moving average price is $121.25. The firm has a market cap of $35.79 billion, a PE ratio of 13.65, a PEG ratio of 1.13 and a beta of 1.43. 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 issued its quarterly earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.15. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.57 billion. State Street had a return on equity of 13.46% and a net margin of 13.02%.The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.60 earnings per share. Equities research analysts predict that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Stockholders 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 dividend yield of 2.6%. The ex-dividend date is Wednesday, April 1st. State Street’s dividend payout ratio is presently 35.71%.

About State Street

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.