Twin Capital Management Inc. Has $1.63 Million Stake in State Street Corporation $STT

Twin Capital Management Inc. lessened its stake in State Street Corporation (NYSE:STT) by 43.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,014 shares of the asset manager’s stock after selling 10,791 shares during the quarter. Twin Capital Management Inc.’s holdings in State Street were worth $1,626,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of STT. True Wealth Design LLC raised its holdings in shares of State Street by 166.3% during the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 158 shares in the last quarter. Flagship Wealth Advisors LLC bought a new stake in shares of State Street in the 3rd quarter worth about $35,000. SJS Investment Consulting Inc. increased its position in shares of 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 purchasing an additional 300 shares in the last quarter. 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 position in State Street in the third quarter valued at about $47,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. TD Cowen restated a “buy” rating on shares of State Street in a research report on Wednesday, January 7th. Wells Fargo & Company raised their price objective on shares of State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Wall Street Zen raised State Street from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Loop Capital set a $144.00 price target on State Street in a research report on Tuesday, January 6th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of State Street from $132.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, State Street presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.83.

State Street Trading Up 2.8%

Shares of NYSE STT opened at $132.34 on Friday. The firm 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. The stock has a market cap of $36.96 billion, a P/E 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.

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

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 12th. Stockholders of record on Friday, January 2nd were given a $0.84 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $3.36 annualized dividend and a dividend yield of 2.5%. 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.