IFM Investors Pty Ltd lifted its holdings in shares of State Street Co. (NYSE:STT – Get Rating) by 4.0% during the 2nd quarter, Holdings Channel reports. The firm owned 63,243 shares of the asset manager's stock after purchasing an additional 2,459 shares during the period. IFM Investors Pty Ltd's holdings in State Street were worth $3,899,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in the business. Samalin Investment Counsel LLC increased its holdings in shares of State Street by 5.0% during the fourth quarter. Samalin Investment Counsel LLC now owns 2,124 shares of the asset manager's stock worth $197,000 after purchasing an additional 101 shares during the period. Main Street Financial Solutions LLC increased its holdings in shares of State Street by 4.9% during the first quarter. Main Street Financial Solutions LLC now owns 3,010 shares of the asset manager's stock worth $262,000 after purchasing an additional 140 shares during the period. City State Bank boosted its position in shares of State Street by 42.9% during the 1st quarter. City State Bank now owns 500 shares of the asset manager's stock worth $44,000 after acquiring an additional 150 shares in the last quarter. Beaton Management Co. Inc. boosted its position in shares of State Street by 0.8% during the 1st quarter. Beaton Management Co. Inc. now owns 19,022 shares of the asset manager's stock worth $1,657,000 after acquiring an additional 152 shares in the last quarter. Finally, United Capital Financial Advisers LLC boosted its position in shares of State Street by 3.7% during the 1st quarter. United Capital Financial Advisers LLC now owns 4,717 shares of the asset manager's stock worth $411,000 after acquiring an additional 170 shares in the last quarter. 89.17% of the stock is owned by institutional investors.
Get State Street alerts:Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of State Street from $67.00 to $74.00 in a research report on Friday, August 12th. Wells Fargo & Company reduced their price target on shares of State Street from $95.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Friday, July 1st. JPMorgan Chase & Co. reduced their price target on shares of State Street from $82.00 to $74.50 in a research report on Monday, July 11th. Morgan Stanley reduced their price target on shares of State Street from $106.00 to $86.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 6th. Finally, UBS Group cut their target price on shares of State Street from $101.00 to $91.00 in a research report on Monday, July 11th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $84.81.
State Street Price Performance
STT stock opened at $63.63 on Friday. The company has a fifty day moving average price of $70.11 and a 200-day moving average price of $71.92. The company has a market capitalization of $23.39 billion, a P/E ratio of 8.81, a PEG ratio of 1.10 and a beta of 1.60. State Street Co. has a 52-week low of $58.79 and a 52-week high of $104.87. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.53 and a current ratio of 0.53.State Street (NYSE:STT – Get Rating) last released its quarterly earnings results on Friday, July 15th. The asset manager reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.18. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $3 billion. State Street had a net margin of 22.61% and a return on equity of 11.64%. As a group, equities analysts expect that State Street Co. will post 7.21 EPS for the current year.
State Street Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Monday, October 3rd will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Friday, September 30th. This is an increase from State Street's previous quarterly dividend of $0.57. State Street's dividend payout ratio (DPR) is currently 31.58%.
State Street Profile
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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; product accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, 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.
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