Teachers Retirement System of The State of Kentucky Has $28.19 Million Position in State Street Corporation $STT

by · The Markets Daily

Teachers Retirement System of The State of Kentucky lowered its position in State Street Corporation (NYSE:STT – Free Report) by 20.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 242,955 shares of the asset manager’s stock after selling 63,710 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.09% of State Street worth $28,186,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of STT. True Wealth Design LLC lifted its position in State Street by 166.3% in the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 158 shares in the last quarter. 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. increased its holdings in State Street by 2,142.9% during the third quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock worth $36,000 after buying an additional 300 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised 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 valued at $39,000 after purchasing an additional 94 shares during the period. Finally, City Holding Co. bought a new stake in State Street in the third quarter valued at approximately $47,000. Institutional investors own 87.44% of the company’s stock.

State Street Stock Up 0.7%

Shares of NYSE:STT opened at $129.50 on Tuesday. The company has a market capitalization of $36.10 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 1.13 and a beta of 1.43. State Street Corporation has a 1 year low of $72.81 and a 1 year high of $137.05. The business’s 50-day moving average is $130.17 and its 200-day moving average is $121.43. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61.

State Street (NYSE:STT – Get Free Report) last issued its earnings results on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, beating 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 business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the company posted $2.60 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. 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 issued a $0.84 dividend. 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 (DPR) is currently 35.71%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of State Street in a research note on Wednesday, January 21st. TD Cowen reissued a “buy” rating on shares of State Street in a report on Wednesday, January 7th. Wall Street Zen upgraded shares of State Street from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Truist Financial set a $136.00 target price on State Street in a research report on Tuesday, January 20th. Finally, Loop Capital set a $144.00 price target on shares of State Street in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $135.83.

Get Our Latest Research Report on STT

About State Street

(Free Report)

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.

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