State Street Co. (NYSE:STT) Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S increased its position in shares of State Street Co. (NYSE:STT) by 39.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 15,233 shares of the asset manager’s stock after acquiring an additional 4,337 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in State Street were worth $1,178,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Central Pacific Bank Trust Division acquired a new stake in shares of State Street during the 1st quarter worth approximately $2,086,000. FORA Capital LLC increased its stake in State Street by 549.0% during the first quarter. FORA Capital LLC now owns 27,425 shares of the asset manager’s stock worth $2,121,000 after acquiring an additional 23,199 shares during the last quarter. Daiwa Securities Group Inc. raised its position in State Street by 34.0% in the first quarter. Daiwa Securities Group Inc. now owns 38,502 shares of the asset manager’s stock valued at $2,977,000 after purchasing an additional 9,769 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of State Street in the 1st quarter valued at $150,000. Finally, Choreo LLC grew its holdings in shares of State Street by 3.6% during the 1st quarter. Choreo LLC now owns 8,044 shares of the asset manager’s stock worth $622,000 after purchasing an additional 282 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STT has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods decreased their target price on shares of State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. Morgan Stanley restated an “equal weight” rating and issued a $90.00 price objective on shares of State Street in a report on Wednesday, June 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $85.00 target price on shares of State Street in a report on Monday, July 1st. JPMorgan Chase & Co. upped their price target on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Finally, Argus lifted their price objective on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and an average target price of $83.11.

State Street Stock Up 1.1 %

STT stock traded up $0.80 during mid-day trading on Wednesday, reaching $75.22. The company had a trading volume of 535,471 shares, compared to its average volume of 2,259,614. The firm has a fifty day simple moving average of $74.33 and a 200 day simple moving average of $74.49. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.61 and a current ratio of 0.61. The company has a market capitalization of $22.66 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.27 and a beta of 1.48. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90.

State Street (NYSE:STT) last released its earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.06 billion. Analysts forecast that State Street Co. will post 7.95 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Monday, July 1st will be issued a $0.69 dividend. The ex-dividend date is Monday, July 1st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.67%. State Street’s payout ratio is 51.69%.

About State Street

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; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.