BNP PARIBAS ASSET MANAGEMENT Holding S.A. Boosts Holdings in State Street Co. (NYSE:STT)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of State Street Co. (NYSE:STT) by 3.1% in the second quarter, Holdings Channel reports. The firm owned 186,406 shares of the asset manager’s stock after acquiring an additional 5,646 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in State Street were worth $13,617,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in STT. Russell Investments Group Ltd. boosted its stake in shares of State Street by 11.8% during the fourth quarter. Russell Investments Group Ltd. now owns 269,181 shares of the asset manager’s stock valued at $20,873,000 after purchasing an additional 28,347 shares during the period. Choreo LLC raised its holdings in shares of State Street by 112.8% in the fourth quarter. Choreo LLC now owns 7,762 shares of the asset manager’s stock valued at $607,000 after acquiring an additional 4,115 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of State Street by 47.1% in the fourth quarter. First Trust Direct Indexing L.P. now owns 7,021 shares of the asset manager’s stock valued at $544,000 after acquiring an additional 2,247 shares in the last quarter. Natixis Advisors L.P. raised its holdings in shares of State Street by 3.1% in the fourth quarter. Natixis Advisors L.P. now owns 245,046 shares of the asset manager’s stock valued at $18,980,000 after acquiring an additional 7,285 shares in the last quarter. Finally, Summit Global Investments bought a new stake in shares of State Street in the fourth quarter valued at about $234,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Trading Up 1.4 %

State Street stock opened at $87.10 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.89. State Street Co. has a 12 month low of $62.78 and a 12 month high of $87.26. The stock’s 50 day simple moving average is $79.55 and its two-hundred day simple moving average is $76.08. The firm has a market cap of $26.24 billion, a PE ratio of 16.31, a P/E/G ratio of 1.37 and a beta of 1.50.

State Street (NYSE:STT) last released its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.15 EPS for the quarter, topping the consensus estimate of $2.03 by $0.12. State Street had a return on equity of 11.78% and a net margin of 8.98%. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the firm posted $2.17 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts anticipate that State Street Co. will post 8.13 earnings per share 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. This represents a $3.04 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a positive change from State Street’s previous quarterly dividend of $0.69. State Street’s dividend payout ratio is currently 56.93%.

Analyst Ratings Changes

Several analysts recently weighed in on STT shares. Morgan Stanley lifted their price objective on State Street from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Wednesday, July 17th. Wolfe Research reiterated an “underperform” rating and issued a $73.00 target price on shares of State Street in a report on Monday, July 8th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of State Street from $80.00 to $79.00 and set a “hold” rating for the company in a report on Thursday, August 15th. Wells Fargo & Company boosted their target price on shares of State Street from $91.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, Bank of America boosted their target price on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $88.89.

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.