State Street Co. (NYSE:STT) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank decreased its position in State Street Co. (NYSE:STT) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,981 shares of the asset manager’s stock after selling 2,057 shares during the quarter. Toronto Dominion Bank’s holdings in State Street were worth $11,617,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. LRI Investments LLC acquired a new position in State Street in the first quarter worth $25,000. Ashton Thomas Private Wealth LLC bought a new position in shares of State Street in the 2nd quarter worth about $27,000. Norwood Financial Corp acquired a new position in shares of State Street in the 1st quarter valued at about $35,000. Accent Capital Management LLC bought a new stake in shares of State Street during the 4th quarter valued at about $39,000. Finally, Quarry LP acquired a new stake in State Street during the fourth quarter worth about $39,000. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Up 0.1 %

STT opened at $88.20 on Friday. The stock’s fifty day moving average is $83.61 and its 200-day moving average is $77.93. State Street Co. has a one year low of $62.78 and a one year high of $89.49. The company has a market capitalization of $26.57 billion, a PE ratio of 16.52, a P/E/G ratio of 1.44 and a beta of 1.48. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.54 and a current ratio of 0.54.

State Street (NYSE:STT) last issued 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. 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 during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the company earned $2.17 EPS. State Street’s revenue was up 2.6% on a year-over-year basis. On average, equities analysts predict that State Street Co. will post 8.15 EPS for the current fiscal year.

State Street Increases Dividend

The business also recently disclosed 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. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Tuesday, October 1st. This is an increase from State Street’s previous quarterly dividend of $0.69. State Street’s dividend payout ratio is 56.93%.

Analyst Upgrades and Downgrades

STT has been the subject of several recent research reports. Keefe, Bruyette & Woods lowered their target price on State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft raised their target price on State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Wolfe Research restated an “underperform” rating and set a $73.00 price target on shares of State Street in a research report on Monday, July 8th. 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. Finally, Morgan Stanley boosted their target price on shares of State Street from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note 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 given a buy rating to the stock. According to MarketBeat.com, State Street presently has an average rating of “Hold” and an average price target of $89.61.

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.