Ostrum Asset Management bought a new position in shares of State Street Corp (NYSE:STT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,748 shares of the asset manager’s stock, valued at approximately $174,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Motco boosted its position in State Street by 246.8% during the first quarter. Motco now owns 1,068 shares of the asset manager’s stock worth $107,000 after acquiring an additional 760 shares during the last quarter. Delpha Capital Management LLC acquired a new position in State Street during the fourth quarter worth about $113,000. Focused Wealth Management Inc acquired a new position in State Street during the fourth quarter worth about $117,000. Financial Gravity Companies Inc. acquired a new position in State Street during the fourth quarter worth about $137,000. Finally, Trustcore Financial Services LLC acquired a new position in State Street during the fourth quarter worth about $139,000. Hedge funds and other institutional investors own 87.98% of the company’s stock.
A number of research firms recently weighed in on STT. Zacks Investment Research lowered shares of State Street from a “buy” rating to a “hold” rating in a research report on Monday, May 28th. Keefe, Bruyette & Woods set a $115.00 price target on shares of State Street and gave the stock a “buy” rating in a research report on Wednesday, April 4th. Deutsche Bank upgraded shares of State Street from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research report on Monday, April 23rd. Sandler O’Neill restated a “hold” rating and set a $104.00 price target on shares of State Street in a research report on Monday, April 9th. Finally, ValuEngine lowered shares of State Street from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. State Street has a consensus rating of “Buy” and an average price target of $111.29.
State Street opened at $98.34 on Friday, MarketBeat Ratings reports. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $35.93 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.26 and a beta of 1.27. State Street Corp has a 1-year low of $86.80 and a 1-year high of $114.27.
State Street (NYSE:STT) last posted its earnings results on Friday, April 20th. The asset manager reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.04. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3 billion. State Street had a net margin of 19.07% and a return on equity of 14.23%. State Street’s revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 EPS. equities analysts expect that State Street Corp will post 7.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 17th. Shareholders of record on Monday, July 2nd will be issued a $0.42 dividend. The ex-dividend date is Friday, June 29th. This represents a $1.68 annualized dividend and a yield of 1.71%. State Street’s payout ratio is 28.19%.
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; product and participant level 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; 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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