J.P. Morgan Private Wealth Advisors LLC Invests $3.91 Million in State Street Co. (NYSE:STT)

J.P. Morgan Private Wealth Advisors LLC bought a new stake in State Street Co. (NYSE:STTFree Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 58,452 shares of the asset manager’s stock, valued at approximately $3,914,000.

Other institutional investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its position in shares of State Street by 11.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,413 shares of the asset manager’s stock valued at $103,000 after purchasing an additional 143 shares during the period. IFP Advisors Inc grew its position in State Street by 24.9% during the second quarter. IFP Advisors Inc now owns 733 shares of the asset manager’s stock worth $72,000 after buying an additional 146 shares in the last quarter. Bleakley Financial Group LLC increased its stake in State Street by 1.8% during the 2nd quarter. Bleakley Financial Group LLC now owns 8,147 shares of the asset manager’s stock worth $596,000 after acquiring an additional 147 shares during the period. First Manhattan Co. grew its holdings in shares of State Street by 7.5% during the 4th quarter. First Manhattan Co. now owns 2,119 shares of the asset manager’s stock worth $164,000 after purchasing an additional 148 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its stake in State Street by 1.8% in the fourth quarter. Apollon Wealth Management LLC now owns 8,337 shares of the asset manager’s stock valued at $647,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 89.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on STT shares. Royal Bank of Canada raised their target price on shares of State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Wells Fargo & Company reiterated an “overweight” rating and set a $83.00 price objective on shares of State Street in a research report on Wednesday, December 6th. Bank of America restated an “underperform” rating and issued a $81.00 target price on shares of State Street in a research report on Thursday, January 4th. Barclays upped their price target on shares of State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, Morgan Stanley increased their price target on State Street from $83.00 to $88.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $81.83.

Get Our Latest Research Report on STT

State Street Stock Up 0.8 %

Shares of NYSE STT opened at $73.03 on Thursday. The company has a market capitalization of $22.54 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 1.46 and a beta of 1.53. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.51 and a current ratio of 0.55. State Street Co. has a 52-week low of $62.78 and a 52-week high of $94.74. The company’s 50 day moving average price is $75.59 and its 200-day moving average price is $70.99.

State Street (NYSE:STTGet Free Report) last announced its quarterly earnings data on Friday, January 19th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. State Street had a return on equity of 11.86% and a net margin of 10.59%. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the business earned $2.07 EPS. The firm’s revenue was down 3.5% compared to the same quarter last year. Equities analysts forecast that State Street Co. will post 7.79 earnings per share for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were paid a $0.69 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $2.76 annualized dividend and a dividend yield of 3.78%. State Street’s dividend payout ratio is currently 50.27%.

About State Street

(Free Report)

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; 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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Institutional Ownership by Quarter for State Street (NYSE:STT)

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