Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $2.10 Million Holdings in State Street Co. (NYSE:STT)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its position in State Street Co. (NYSE:STT) by 42.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 28,309 shares of the asset manager’s stock after selling 20,898 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in State Street were worth $2,095,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. LRI Investments LLC acquired a new stake in shares of State Street during the 1st quarter worth approximately $25,000. Norwood Financial Corp bought a new position in shares of State Street in the first quarter valued at approximately $35,000. Versant Capital Management Inc grew its stake in State Street by 411.9% during the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 416 shares in the last quarter. Accent Capital Management LLC purchased a new stake in State Street in the 4th quarter worth approximately $39,000. Finally, Quarry LP purchased a new stake in State Street in the 4th quarter worth approximately $39,000. 87.44% of the stock is owned by institutional investors.

State Street Trading Up 0.8 %

Shares of STT stock traded up $0.63 on Friday, hitting $81.18. 1,465,963 shares of the company’s stock traded hands, compared to its average volume of 2,241,735. The stock has a market capitalization of $24.24 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 1.21 and a beta of 1.48. The company’s fifty day simple moving average is $77.41 and its 200 day simple moving average is $75.40. State Street Co. has a one year low of $62.78 and a one year high of $86.25. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.54 and a current ratio of 0.54.

State Street (NYSE:STT) last announced its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. State Street had a return on equity of 11.78% and a net margin of 8.98%. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the firm earned $2.17 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts forecast that State Street Co. will post 8.15 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. The ex-dividend date is Tuesday, October 1st. This represents a $3.04 annualized dividend and a yield of 3.74%. This is an increase from State Street’s previous quarterly dividend of $0.69. State Street’s payout ratio is presently 51.69%.

Analyst Ratings Changes

A number of research firms have recently commented on STT. Barclays boosted their price target on shares of State Street from $102.00 to $103.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Bank of America upped their target price on State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. The Goldman Sachs Group raised their price target on State Street from $89.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Evercore ISI boosted their price objective on State Street from $88.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Finally, 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 report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $88.89.

State Street Company 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.