Callan Family Office LLC Takes Position in State Street Co. (NYSE:STT)

Callan Family Office LLC bought a new position in State Street Co. (NYSE:STT) during the 3rd quarter, HoldingsChannel reports. The fund bought 2,744 shares of the asset manager’s stock, valued at approximately $243,000.

Several other large investors have also made changes to their positions in STT. Sei Investments Co. grew its holdings in shares of State Street by 2.0% in the 4th quarter. Sei Investments Co. now owns 431,132 shares of the asset manager’s stock worth $33,395,000 after purchasing an additional 8,249 shares during the last quarter. Putnam Investments LLC grew its holdings in shares of State Street by 5.8% in the 4th quarter. Putnam Investments LLC now owns 2,343,254 shares of the asset manager’s stock worth $181,508,000 after purchasing an additional 129,493 shares during the last quarter. Point72 Europe London LLP grew its holdings in shares of State Street by 51.0% in the 4th quarter. Point72 Europe London LLP now owns 119,116 shares of the asset manager’s stock worth $9,227,000 after purchasing an additional 40,216 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of State Street in the 4th quarter worth about $10,136,000. Finally, Pitcairn Co. grew its holdings in shares of State Street by 3.0% in the 4th quarter. Pitcairn Co. now owns 46,470 shares of the asset manager’s stock worth $3,600,000 after purchasing an additional 1,371 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Wolfe Research reissued an “underperform” rating and set a $73.00 price objective on shares of State Street in a report on Monday, July 8th. Royal Bank of Canada increased their price objective on shares of State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Morgan Stanley increased their price objective on shares of State Street from $93.00 to $100.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, State Street has a consensus rating of “Hold” and a consensus target price of $90.11.

State Street Stock Performance

Shares of NYSE:STT opened at $88.57 on Wednesday. The company has a market capitalization of $26.68 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 1.33 and a beta of 1.48. The firm’s 50 day simple moving average is $84.01 and its 200 day simple moving average is $78.69. 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 Co. has a fifty-two week low of $62.78 and a fifty-two week high of $89.49.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, July 16th. The asset manager reported $2.15 earnings per share for the quarter, beating 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 net margin of 8.98% and a return on equity of 11.78%. State Street’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the company posted $2.17 EPS. As a group, sell-side analysts forecast that State Street Co. will post 8.16 earnings per share for the current year.

State Street Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors 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 3.43%. 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 dividend payout ratio (DPR) is currently 56.93%.

State Street Company 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.