12,902 Shares in State Street Co. (NYSE:STT) Purchased by Caxton Associates LP

Caxton Associates LP purchased a new stake in State Street Co. (NYSE:STT) in the second quarter, Holdings Channel reports. The institutional investor purchased 12,902 shares of the asset manager’s stock, valued at approximately $955,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Assetmark Inc. boosted its holdings in State Street by 8.5% during the fourth quarter. Assetmark Inc. now owns 3,771 shares of the asset manager’s stock worth $292,000 after buying an additional 296 shares in the last quarter. TFO Wealth Partners LLC boosted its stake 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 acquiring an additional 10,698 shares in the last quarter. Rathbones Group PLC grew its holdings in shares of State Street by 5.8% in the 4th quarter. Rathbones Group PLC now owns 67,758 shares of the asset manager’s stock worth $5,249,000 after acquiring an additional 3,724 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of State Street during the fourth quarter worth $3,295,000. Finally, KBC Group NV raised its position in shares of State Street by 117.5% during the fourth quarter. KBC Group NV now owns 162,516 shares of the asset manager’s stock worth $12,589,000 after purchasing an additional 87,811 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Price Performance

Shares of NYSE:STT opened at $88.09 on Friday. State Street Co. has a 1 year low of $62.78 and a 1 year high of $89.49. The business has a fifty day simple moving average of $83.54 and a 200 day simple moving average of $77.86. The firm has a market cap of $26.31 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 1.44 and a beta of 1.48. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.89.

State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the firm posted $2.17 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that State Street Co. will post 8.15 earnings per share for the current fiscal year.

State Street Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Tuesday, October 1st. This is a positive change from State Street’s previous quarterly dividend of $0.69. State Street’s dividend payout ratio (DPR) is presently 51.69%.

Analyst Ratings Changes

STT has been the topic of a number of analyst reports. Wolfe Research reissued an “underperform” rating and issued a $73.00 price target on shares of State Street in a research note on Monday, July 8th. Bank of America lifted their target price on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Citigroup upped their price target 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. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of State Street from $79.00 to $87.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Royal Bank of Canada increased their target price on State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, State Street has an average rating of “Hold” and an average price target of $89.61.

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.