Bokf Na Sells 19,819 Shares of State Street Co. (NYSE:STT)

Bokf Na lessened its stake in shares of State Street Co. (NYSE:STT) by 96.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 769 shares of the asset manager’s stock after selling 19,819 shares during the period. Bokf Na’s holdings in State Street were worth $57,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of STT. Norges Bank bought a new stake in State Street during the fourth quarter worth about $147,421,000. LSV Asset Management raised its stake in State Street by 30.6% in the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after buying an additional 1,238,251 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in State Street by 541.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock valued at $58,117,000 after buying an additional 634,422 shares during the period. SG Americas Securities LLC raised its stake in State Street by 430.5% in the first quarter. SG Americas Securities LLC now owns 735,136 shares of the asset manager’s stock valued at $56,841,000 after buying an additional 596,567 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in State Street by 57.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,563,964 shares of the asset manager’s stock valued at $121,145,000 after buying an additional 573,016 shares during the period. Institutional investors own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on STT. Bank of America upped their price objective on State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods dropped their price objective on State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a research note on Thursday, June 27th. The Goldman Sachs Group upped their price objective on State Street from $89.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Evercore ISI upped their price objective on State Street from $88.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Finally, Barclays upped their target price on State Street from $102.00 to $103.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, State Street has an average rating of “Hold” and an average target price of $88.89.

State Street Trading Up 1.4 %

Shares of NYSE:STT opened at $86.69 on Wednesday. The company has a market capitalization of $25.89 billion, a P/E ratio of 16.23, a P/E/G ratio of 1.34 and a beta of 1.48. State Street Co. has a 1 year low of $62.78 and a 1 year high of $87.26. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.54 and a quick ratio of 0.54. The business’s 50 day simple moving average is $82.50 and its 200 day simple moving average is $77.23.

State Street (NYSE:STT) last issued its quarterly earnings results on Tuesday, July 16th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.12. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. State Street had a return on equity of 11.78% and a net margin of 8.98%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.17 earnings per share. On average, research analysts anticipate that State Street Co. will post 8.14 EPS for the current fiscal year.

State Street Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Tuesday, October 1st. This is an increase from State Street’s previous quarterly dividend of $0.69. State Street’s dividend payout ratio (DPR) is currently 51.69%.

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.