Atria Wealth Solutions Inc. Boosts Stock Position in State Street Co. (NYSE:STT)

Atria Wealth Solutions Inc. lifted its position in State Street Co. (NYSE:STTFree Report) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,540 shares of the asset manager’s stock after purchasing an additional 2,277 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in State Street were worth $3,143,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in STT. Raymond James Trust N.A. boosted its position in shares of State Street by 29.3% in the 1st quarter. Raymond James Trust N.A. now owns 4,505 shares of the asset manager’s stock valued at $392,000 after purchasing an additional 1,021 shares during the period. Blair William & Co. IL lifted its position in State Street by 14.3% during the 1st quarter. Blair William & Co. IL now owns 17,756 shares of the asset manager’s stock worth $1,547,000 after acquiring an additional 2,216 shares during the period. Sei Investments Co. lifted its position in State Street by 3.8% during the 1st quarter. Sei Investments Co. now owns 280,353 shares of the asset manager’s stock worth $24,436,000 after acquiring an additional 10,187 shares during the period. Prudential PLC acquired a new stake in State Street during the 1st quarter worth approximately $812,000. Finally, Cetera Investment Advisers lifted its position in State Street by 16.5% during the 1st quarter. Cetera Investment Advisers now owns 23,170 shares of the asset manager’s stock worth $2,019,000 after acquiring an additional 3,276 shares during the period. 89.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on STT. UBS Group increased their price objective on State Street from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Morgan Stanley increased their price objective on State Street from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Barclays increased their price objective on State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods cut their target price on State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Finally, Royal Bank of Canada increased their target price on State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $81.83.

Check Out Our Latest Stock Report on STT

State Street Stock Performance

NYSE STT opened at $72.39 on Friday. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $94.74. The stock has a market cap of $22.34 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The business has a fifty day moving average of $75.58 and a 200-day moving average of $71.00. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 0.86.

State Street (NYSE:STTGet Free Report) last released its quarterly earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the firm posted $2.07 earnings per share. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, analysts predict that State Street Co. will post 7.79 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were issued a $0.69 dividend. The ex-dividend date was Friday, December 29th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.81%. State Street’s dividend payout ratio (DPR) is 50.27%.

State Street Company Profile

(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.

Further Reading

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

Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.