State Street Co. (NYSE:STT) Shares Bought by Sei Investments Co.

Sei Investments Co. grew its position in State Street Co. (NYSE:STT) by 14.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 500,238 shares of the asset manager’s stock after acquiring an additional 63,438 shares during the quarter. Sei Investments Co. owned about 0.17% of State Street worth $37,017,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. LRI Investments LLC acquired a new position in State Street during the first quarter worth about $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in State Street in the 2nd quarter valued at about $27,000. Norwood Financial Corp acquired a new position in State Street during the first quarter worth approximately $35,000. Versant Capital Management Inc raised its position in shares of State Street by 411.9% in the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after buying an additional 416 shares during the period. Finally, Accent Capital Management LLC acquired a new position in shares of State Street in the 4th quarter valued at about $39,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Trading Up 0.7 %

NYSE STT opened at $89.13 on Tuesday. State Street Co. has a 12 month low of $62.78 and a 12 month high of $89.49. The stock has a 50-day simple moving average of $83.39 and a 200 day simple moving average of $77.67. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $26.85 billion, a PE ratio of 16.69, a P/E/G ratio of 1.38 and a beta of 1.48.

State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. State Street had a net margin of 8.98% and a return on equity of 11.78%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.17 earnings per share. Research 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 dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.41%. This is a positive change from State Street’s previous quarterly dividend of $0.69. State Street’s dividend payout ratio (DPR) is currently 56.93%.

Analysts Set New Price Targets

STT has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Barclays raised 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. Wolfe Research reaffirmed an “underperform” rating and issued a $73.00 price target on shares of State Street in a research note on Monday, July 8th. The Goldman Sachs Group raised their target price on State Street from $89.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Evercore ISI increased their price objective on State Street from $88.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, State Street presently has a consensus rating of “Hold” and a consensus target price of $89.46.

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.