State Street Co. (NYSE:STT) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its position in State Street Co. (NYSE:STT) by 1.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 350,156 shares of the asset manager’s stock after purchasing an additional 5,066 shares during the period. American Century Companies Inc.’s holdings in State Street were worth $25,912,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Capital International Investors grew its stake in State Street by 0.5% in the first quarter. Capital International Investors now owns 6,626,753 shares of the asset manager’s stock worth $512,381,000 after purchasing an additional 31,314 shares in the last quarter. LSV Asset Management boosted 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 acquiring an additional 1,238,251 shares during the period. Metropolis Capital Ltd boosted its stake in State Street by 13.1% in the second quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock valued at $305,238,000 after acquiring an additional 479,205 shares during the period. Cooke & Bieler LP boosted its stake in State Street by 3.1% in the second quarter. Cooke & Bieler LP now owns 3,551,282 shares of the asset manager’s stock valued at $262,795,000 after acquiring an additional 105,222 shares during the period. Finally, Putnam Investments LLC boosted its stake in State Street by 5.8% in the fourth quarter. Putnam Investments LLC now owns 2,343,254 shares of the asset manager’s stock valued at $181,508,000 after acquiring an additional 129,493 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on STT shares. Morgan Stanley lifted their target price on State Street from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 17th. Citigroup lifted their target price on State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Evercore ISI lifted their target price on State Street from $88.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft decreased their target price on State Street from $80.00 to $79.00 and set a “hold” rating for the company in a research note on Thursday, August 15th. Finally, Bank of America lifted their price target on State Street from $85.00 to $96.00 and gave the company 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.89.

State Street Price Performance

Shares of NYSE:STT opened at $87.16 on Thursday. State Street Co. has a 12 month low of $62.78 and a 12 month high of $88.18. The stock has a market cap of $26.26 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 1.34 and a beta of 1.48. The stock’s 50 day moving average price is $82.73 and its 200 day moving average price is $77.30. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.54 and a quick ratio of 0.54.

State Street (NYSE:STT) last announced its earnings results 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 firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the company earned $2.17 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that State Street Co. will post 8.14 earnings per share for the current fiscal year.

State Street Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.76 per share. This is a boost from State Street’s previous quarterly dividend of $0.69. The ex-dividend date is Tuesday, October 1st. This represents a $3.04 annualized dividend and a yield of 3.49%. State Street’s payout ratio is presently 56.93%.

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.