State Street Co. (NYSE:STT) Shares Sold by Blair William & Co. IL

Blair William & Co. IL decreased its position in shares of State Street Co. (NYSE:STT) by 11.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,165 shares of the asset manager’s stock after selling 1,516 shares during the period. Blair William & Co. IL’s holdings in State Street were worth $900,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC increased its position in State Street by 10.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 34,774 shares of the asset manager’s stock worth $2,573,000 after buying an additional 3,230 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of State Street by 21.0% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,395 shares of the asset manager’s stock valued at $917,000 after purchasing an additional 2,153 shares during the period. L & S Advisors Inc acquired a new position in shares of State Street in the second quarter valued at approximately $2,171,000. Edgestream Partners L.P. increased its holdings in shares of State Street by 152.6% in the second quarter. Edgestream Partners L.P. now owns 77,668 shares of the asset manager’s stock valued at $5,747,000 after purchasing an additional 46,923 shares during the period. Finally, Citizens Financial Group Inc. RI increased its holdings in shares of State Street by 40.5% in the second quarter. Citizens Financial Group Inc. RI now owns 5,606 shares of the asset manager’s stock valued at $415,000 after purchasing an additional 1,616 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

STT has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on State Street from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods dropped their target price on State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft boosted their target price on State Street from $79.00 to $87.00 and gave the company a “hold” rating in a report on Monday. Barclays lifted their price target on State Street from $102.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, The Goldman Sachs Group lifted their price target on State Street from $89.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, State Street presently has an average rating of “Hold” and a consensus target price of $89.46.

State Street Stock Performance

Shares of NYSE:STT opened at $88.91 on Wednesday. The firm has a market capitalization of $26.78 billion, a PE ratio of 16.65, a P/E/G ratio of 1.38 and a beta of 1.48. 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 has a 50-day moving average of $83.47 and a two-hundred day moving average of $77.79. State Street Co. has a 12 month low of $62.78 and a 12 month high of $89.49.

State Street (NYSE:STT) last announced its quarterly 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. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. State Street had a return on equity of 11.78% and a net margin of 8.98%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.17 earnings per share. As a group, research analysts forecast that State Street Co. will post 8.15 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. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.76 per share. The ex-dividend date is Tuesday, October 1st. This is a positive change from State Street’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a yield of 3.42%. State Street’s dividend payout ratio 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.