State Street Co. (NYSE:STT) Shares Purchased by Allied Investment Advisors LLC

Allied Investment Advisors LLC raised its stake in State Street Co. (NYSE:STT) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,764 shares of the asset manager’s stock after acquiring an additional 1,486 shares during the quarter. State Street makes up 2.1% of Allied Investment Advisors LLC’s portfolio, making the stock its 24th biggest holding. Allied Investment Advisors LLC’s holdings in State Street were worth $10,507,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. lifted its position in State Street by 4.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 941,404 shares of the asset manager’s stock worth $72,789,000 after buying an additional 40,835 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in State Street by 3.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,891 shares of the asset manager’s stock worth $15,376,000 after purchasing an additional 6,363 shares during the last quarter. M&G Plc acquired a new position in shares of State Street in the 1st quarter valued at $7,626,000. Public Employees Retirement Association of Colorado grew its stake in shares of State Street by 298.6% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 37,888 shares of the asset manager’s stock valued at $2,935,000 after buying an additional 28,382 shares during the period. Finally, Cetera Investment Advisers increased its holdings in shares of State Street by 127.8% during the 1st quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock worth $3,433,000 after buying an additional 24,906 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Citigroup boosted their price target on State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Wolfe Research reiterated an “underperform” rating and set a $73.00 target price on shares of State Street in a report on Monday, July 8th. Evercore ISI raised their price target on shares of State Street from $88.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods reduced their price target on shares of State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. Finally, Bank of America increased their price objective 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $90.11.

State Street Stock Up 1.6 %

Shares of NYSE:STT traded up $1.35 during trading on Friday, hitting $87.31. The company’s stock had a trading volume of 1,744,059 shares, compared to its average volume of 2,308,696. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $89.49. The stock’s 50-day moving average price is $83.95 and its two-hundred day moving average price is $78.54. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $26.07 billion, a PE ratio of 16.35, a PEG ratio of 1.33 and a beta of 1.48.

State Street (NYSE:STT) last issued its quarterly earnings results on Tuesday, July 16th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the firm earned $2.17 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts expect that State Street Co. will post 8.16 EPS for the current year.

State Street Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Tuesday, October 1st. This is a boost from State Street’s previous quarterly dividend of $0.69. State Street’s dividend payout ratio (DPR) is 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.