State Street Co. (NYSE:STT) Shares Sold by Northwest Investment Counselors LLC

Northwest Investment Counselors LLC lowered its stake in State Street Co. (NYSE:STT) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,044 shares of the asset manager’s stock after selling 1,046 shares during the quarter. Northwest Investment Counselors LLC’s holdings in State Street were worth $1,936,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of STT. Metropolis Capital Ltd lifted its holdings in State Street by 5.3% in the 1st quarter. Metropolis Capital Ltd now owns 3,645,635 shares of the asset manager’s stock valued at $281,880,000 after acquiring an additional 183,591 shares during the last quarter. Ballentine Partners LLC raised its holdings in State Street by 10.0% during the 1st quarter. Ballentine Partners LLC now owns 13,299 shares of the asset manager’s stock worth $1,028,000 after buying an additional 1,214 shares during the period. Bridge Creek Capital Management LLC raised its holdings in State Street by 0.9% during the 1st quarter. Bridge Creek Capital Management LLC now owns 48,234 shares of the asset manager’s stock worth $3,729,000 after buying an additional 440 shares during the period. Bennett Selby Investments LP acquired a new stake in State Street during the 1st quarter worth about $424,000. Finally, Tealwood Asset Management Inc. raised its holdings in State Street by 5.6% during the 1st quarter. Tealwood Asset Management Inc. now owns 27,783 shares of the asset manager’s stock worth $2,148,000 after buying an additional 1,465 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Performance

Shares of STT traded up $1.09 during mid-day trading on Monday, hitting $73.33. The company’s stock had a trading volume of 218,855 shares, compared to its average volume of 2,262,276. State Street Co. has a one year low of $62.78 and a one year high of $79.90. 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 firm has a market capitalization of $22.09 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.26 and a beta of 1.47. The stock’s 50-day moving average is $74.35 and its two-hundred day moving average is $74.71.

State Street (NYSE:STT) last issued its earnings results on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.21. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.06 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. As a group, sell-side analysts anticipate that State Street Co. will post 7.94 EPS for the current year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Monday, July 1st will be paid 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 3.76%. State Street’s payout ratio is 51.69%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. UBS Group upped their target price on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 target price on shares of State Street in a report on Wednesday, June 12th. Evercore ISI upped their target price on State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Argus upped their target price on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. boosted their price target on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $84.04.

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.