Asset Management One Cuts State Street Stake by 2.9% (4,068 Shares) in Q3
Asset Management One Co. Ltd. trimmed its STT stake by 2.9% in the third quarter, selling 4,068 shares to hold 137,493 shares valued at $15.95 million. Other institutions like DMKC Advisory and Global Retirement Partners adjusted holdings by 2.9% and 7.7%, contributing to an 87.44% institutional ownership.
1. Major Stake Reduction by Asset Management One Co.
Asset Management One Co. Ltd. trimmed its position in State Street during the third quarter, selling 4,068 shares and reducing its stake by 2.9%. Following the sale, the firm holds 137,493 shares valued at approximately $15.95 million, according to its latest SEC filing. This marks a notable shift for one of State Street’s larger institutional holders and signals a modest reallocation of capital within its portfolio.
2. Divergent Moves by Other Institutional Investors
Several hedge funds and asset managers adjusted their positions in the same period. DMKC Advisory Services increased its holdings by 2.9%, adding 662 shares to reach 23,734 shares worth $2.75 million. Global Retirement Partners boosted its stake by 7.7%, acquiring 105 shares for a total of 1,470 shares valued at $171,000. Verity & Verity raised its position by 0.5%, bringing its total to 269,037 shares ($31.21 million). New entrant PDS Planning initiated a position valued at $206,000, while SJS Investment Consulting expanded its holding by 2,142.9% to 314 shares ($36,000). In aggregate, institutional investors own 87.44% of State Street’s outstanding shares.
3. Q3 Financial Results and Dividend Announcement
In Q3, State Street delivered earnings per share of $2.78, beating consensus by $0.21, and reported revenue of $3.55 billion, an 8.8% increase year-over-year and $120 million above estimates. Return on equity stood at 13.37%, with a net margin of 13.14%. The firm declared a quarterly dividend of $0.84 per share, payable January 12 to shareholders of record January 2, representing a $3.36 annualized payout and a 2.5% yield. The dividend payout ratio is 35.6%.
4. Analyst Ratings and Price Targets
Research houses remain broadly optimistic. Citigroup upgraded its rating to Buy and lifted its target to $150, while Loop Capital set a $144 objective. Keefe, Bruyette & Woods maintained an Outperform stance and raised its target to $135. TD Cowen initiated coverage with a Buy recommendation. Conversely, Wall Street Zen shifted to a Sell rating. Among 16 analysts, one issues a Strong Buy, eleven rate the stock Buy, three Hold and one Sell, leading to a consensus Moderate Buy and an average target of $131.42.