Maryland State Retirement & Pension System Has $1.71 Million Holdings in State Street Co. (NYSE:STT)

Maryland State Retirement & Pension System cut its position in shares of State Street Co. (NYSE:STT) by 3.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,658 shares of the asset manager’s stock after selling 833 shares during the period. Maryland State Retirement & Pension System’s holdings in State Street were worth $1,712,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC boosted its holdings in State Street by 6.5% during the third quarter. LPL Financial LLC now owns 96,148 shares of the asset manager’s stock valued at $6,438,000 after purchasing an additional 5,864 shares in the last quarter. Lido Advisors LLC raised its stake in State Street by 1.6% during the third quarter. Lido Advisors LLC now owns 11,298 shares of the asset manager’s stock worth $756,000 after acquiring an additional 178 shares in the last quarter. Crestwood Advisors Group LLC lifted its holdings in shares of State Street by 11.0% during the third quarter. Crestwood Advisors Group LLC now owns 83,069 shares of the asset manager’s stock valued at $5,562,000 after acquiring an additional 8,202 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of State Street by 4.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,491,059 shares of the asset manager’s stock valued at $99,841,000 after purchasing an additional 63,378 shares in the last quarter. Finally, iA Global Asset Management Inc. lifted its holdings in State Street by 14.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 7,807 shares of the asset manager’s stock valued at $523,000 after purchasing an additional 992 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on STT. JPMorgan Chase & Co. raised their price objective on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th. UBS Group lifted their price objective on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods decreased their target price on State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Evercore ISI reaffirmed an “outperform” rating and issued a $88.00 price target on shares of State Street in a report on Wednesday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $85.00 price objective on shares of State Street in a report on Monday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $83.88.

State Street Trading Down 0.8 %

Shares of State Street stock traded down $0.57 on Friday, hitting $73.57. 103,419 shares of the company’s stock traded hands, compared to its average volume of 2,260,370. 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 current ratio of 0.61 and a quick ratio of 0.61. The stock has a market capitalization of $22.16 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.29 and a beta of 1.48. The firm’s 50-day moving average price is $74.30 and its two-hundred day moving average price is $74.59.

State Street (NYSE:STT) last released its earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.21. The firm had revenue of $3.14 billion for 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%. On average, research analysts expect that State Street Co. will post 7.95 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Monday, July 1st will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.75%. The ex-dividend date is Monday, July 1st. State Street’s payout ratio is presently 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.