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State Street Co. (NYSE:STT) Stock Holdings Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in shares of State Street Co. (NYSE:STTGet Rating) by 14.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 112,151 shares of the asset manager’s stock after acquiring an additional 13,884 shares during the period. Allspring Global Investments Holdings LLC’s holdings in State Street were worth $6,818,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Ronald Blue Trust Inc. bought a new position in shares of State Street during the second quarter worth about $25,000. Venture Visionary Partners LLC acquired a new stake in State Street in the second quarter worth about $27,000. First Financial Corp IN lifted its holdings in State Street by 81.7% in the second quarter. First Financial Corp IN now owns 438 shares of the asset manager’s stock worth $27,000 after purchasing an additional 197 shares during the period. Covestor Ltd lifted its holdings in State Street by 69.2% in the first quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock worth $50,000 after purchasing an additional 234 shares during the period. Finally, CNB Bank acquired a new stake in State Street in the second quarter worth about $37,000. Institutional investors own 88.41% of the company’s stock.

Wall Street Analysts Forecast Growth

STT has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of State Street in a report on Wednesday, January 4th. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of State Street from $82.00 to $85.00 in a report on Wednesday, January 11th. Morgan Stanley downgraded shares of State Street from an “overweight” rating to an “equal weight” rating in a report on Tuesday, December 6th. Bank of America started coverage on shares of State Street in a report on Thursday. They issued a “neutral” rating and a $86.00 price target for the company. Finally, Wells Fargo & Company upped their price target on shares of State Street to $86.00 in a report on Monday, December 12th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $87.61.

State Street Price Performance

NYSE STT opened at $82.97 on Monday. The stock’s 50-day moving average price is $78.22 and its two-hundred day moving average price is $71.59. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.59. The company has a market cap of $30.45 billion, a PE ratio of 11.75, a PEG ratio of 1.26 and a beta of 1.57. State Street Co. has a 1 year low of $58.62 and a 1 year high of $103.87.

State Street (NYSE:STTGet Rating) last posted its quarterly earnings data on Tuesday, October 18th. The asset manager reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.03. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.97 billion. State Street had a return on equity of 11.72% and a net margin of 22.48%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.00 EPS. On average, analysts predict that State Street Co. will post 7.29 EPS for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Tuesday, January 3rd were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, December 30th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.04%. State Street’s dividend payout ratio is 35.69%.

About State Street

(Get Rating)

State Street Corp. operates as a financial holding company. It conducts business primarily through State Street Bank. The firm operates through following business lines: Investment Servicing and Investment Management. The Investment Servicing business offers custody, product and participant-level accounting, daily pricing and administration, master trust and master custody, 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, and performance, risk and compliance analytics.

Featured Stories

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Institutional Ownership by Quarter for State Street (NYSE:STT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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