Point72 Europe London LLP Has $6.69 Million Holdings in State Street Co. (NYSE:STT)

Point72 Europe London LLP decreased its holdings in shares of State Street Co. (NYSE:STT) by 14.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,461 shares of the asset manager’s stock after selling 15,539 shares during the quarter. Point72 Europe London LLP’s holdings in State Street were worth $6,694,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in STT. Assetmark Inc. grew its holdings in shares of State Street by 8.5% in the 4th quarter. Assetmark Inc. now owns 3,771 shares of the asset manager’s stock valued at $292,000 after acquiring an additional 296 shares in the last quarter. SageView Advisory Group LLC acquired a new position in State Street during the fourth quarter valued at approximately $479,000. Nomura Asset Management Co. Ltd. grew its stake in State Street by 4.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 89,839 shares of the asset manager’s stock valued at $6,959,000 after purchasing an additional 3,600 shares in the last quarter. TFO Wealth Partners LLC increased its position in shares of State Street by 133,725.0% during the 4th quarter. TFO Wealth Partners LLC now owns 10,706 shares of the asset manager’s stock worth $829,000 after purchasing an additional 10,698 shares during the last quarter. Finally, Rathbones Group PLC raised its stake in shares of State Street by 5.8% during the 4th quarter. Rathbones Group PLC now owns 67,758 shares of the asset manager’s stock worth $5,249,000 after purchasing an additional 3,724 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

STT has been the subject of several analyst reports. Citigroup raised their target price on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Barclays boosted their price objective on shares of State Street from $102.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods cut their target price on shares of State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a research note on Thursday, June 27th. Wells Fargo & Company lifted their price target on State Street from $91.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $89.46.

State Street Stock Performance

Shares of NYSE STT opened at $88.91 on Wednesday. State Street Co. has a one year low of $62.78 and a one year high of $89.49. 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 firm has a market cap of $26.55 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 1.44 and a beta of 1.48. The stock’s fifty day moving average price is $83.47 and its two-hundred day moving average price is $77.79.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, July 16th. The asset manager reported $2.15 EPS for the quarter, beating the consensus estimate of $2.03 by $0.12. State Street had a net margin of 8.98% and a return on equity of 11.78%. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the company posted $2.17 earnings per share. State Street’s revenue was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that State Street Co. will post 8.15 EPS for the current year.

State Street Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.42%. This is an increase from State Street’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Tuesday, October 1st. State Street’s payout ratio is presently 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.