Capital International Sarl Increases Holdings in State Street Co. (NYSE:STT)

Capital International Sarl raised its position in State Street Co. (NYSE:STT) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,673 shares of the asset manager’s stock after purchasing an additional 1,048 shares during the quarter. Capital International Sarl’s holdings in State Street were worth $2,526,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STT. CVA Family Office LLC bought a new stake in shares of State Street during the fourth quarter worth $27,000. Venturi Wealth Management LLC boosted its stake in shares of State Street by 92.5% during the fourth quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 184 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of State Street during the fourth quarter valued at $35,000. Norwood Financial Corp purchased a new stake in shares of State Street during the first quarter valued at $35,000. Finally, Accent Capital Management LLC purchased a new stake in shares of State Street during the fourth quarter valued at $39,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on STT. Wells Fargo & Company boosted their target price on shares of State Street from $91.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods lowered their target price on shares of State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a research note on Thursday, June 27th. Citigroup upped their price objective on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday. The Goldman Sachs Group upped their price objective on shares of State Street from $89.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, UBS Group upped their price objective on shares of State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $88.96.

State Street Stock Up 0.5 %

State Street stock traded up $0.41 during trading hours on Friday, reaching $85.30. The stock had a trading volume of 1,509,828 shares, compared to its average volume of 2,301,795. State Street Co. has a 52 week low of $62.78 and a 52 week high of $86.24. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.54 and a quick ratio of 0.61. The company has a market cap of $25.70 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.29 and a beta of 1.48. The business’s 50 day moving average price is $76.02 and its 200-day moving average price is $74.94.

State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.12. State Street had a net margin of 8.98% and a return on equity of 11.78%. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the company posted $2.17 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts anticipate that State Street Co. will post 8.12 EPS for the current year.

State Street Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.56%. The ex-dividend date is Tuesday, October 1st. This is a positive change from State Street’s previous quarterly dividend of $0.69. State Street’s dividend payout ratio is currently 51.69%.

State Street Profile

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.