Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in State Street Co. (NYSE:STT) by 6,822.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 104,800 shares of the asset manager’s stock after buying an additional 103,286 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in State Street were worth $7,627,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bronte Capital Management Pty Ltd. acquired a new stake in shares of State Street during the third quarter worth $15,963,000. Morgan Stanley raised its holdings in State Street by 64.7% during the 3rd quarter. Morgan Stanley now owns 1,229,882 shares of the asset manager’s stock worth $72,968,000 after buying an additional 482,997 shares during the period. State of Tennessee Treasury Department lifted its stake in State Street by 44.7% during the third quarter. State of Tennessee Treasury Department now owns 158,020 shares of the asset manager’s stock valued at $9,376,000 after buying an additional 48,797 shares in the last quarter. Lombard Odier Asset Management Switzerland SA boosted its holdings in shares of State Street by 60.5% in the third quarter. Lombard Odier Asset Management Switzerland SA now owns 24,605 shares of the asset manager’s stock worth $1,460,000 after buying an additional 9,275 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd purchased a new position in shares of State Street in the third quarter worth approximately $239,000. 91.77% of the stock is currently owned by institutional investors.
A number of research firms recently commented on STT. Piper Sandler raised their price objective on shares of State Street from $69.00 to $81.00 and gave the stock a “neutral” rating in a research note on Monday, January 11th. Barclays lifted their price target on State Street from $99.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday. Credit Suisse Group lifted their target price on State Street from $78.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, January 20th. Royal Bank of Canada increased their price target on shares of State Street from $78.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 20th. Finally, Zacks Investment Research downgraded shares of State Street from a “buy” rating to a “hold” rating and set a $82.00 target price for the company. in a research report on Monday, January 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $81.27.
State Street stock opened at $84.74 on Thursday. State Street Co. has a one year low of $51.21 and a one year high of $87.89. The company’s fifty day moving average price is $80.49 and its two-hundred day moving average price is $72.10. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.50 and a quick ratio of 0.50. The company has a market capitalization of $29.81 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.11 and a beta of 1.60.
State Street (NYSE:STT) last issued its quarterly earnings data on Monday, January 18th. The asset manager reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.13. State Street had a return on equity of 12.24% and a net margin of 20.75%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the business earned $1.98 EPS. The firm’s revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that State Street Co. will post 6.58 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 12th. Stockholders of record on Thursday, April 1st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Wednesday, March 31st. State Street’s payout ratio is 33.71%.
State Street Company Profile
State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product accounting; daily pricing and administration; master trust and master custody; depotbank; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
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