Cetera Investment Advisers Sells 672 Shares of State Street Co. (NYSE:STT)

Cetera Investment Advisers cut its stake in shares of State Street Co. (NYSE:STT) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,728 shares of the asset manager’s stock after selling 672 shares during the period. Cetera Investment Advisers’ holdings in State Street were worth $3,236,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Capital International Investors lifted its stake in State Street by 0.5% during the 1st quarter. Capital International Investors now owns 6,626,753 shares of the asset manager’s stock valued at $512,381,000 after acquiring an additional 31,314 shares in the last quarter. LSV Asset Management lifted its stake in State Street by 30.6% during the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after acquiring an additional 1,238,251 shares in the last quarter. Metropolis Capital Ltd lifted its stake in State Street by 13.1% during the 2nd quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock valued at $305,238,000 after acquiring an additional 479,205 shares in the last quarter. Cooke & Bieler LP lifted its stake in State Street by 3.1% during the 2nd quarter. Cooke & Bieler LP now owns 3,551,282 shares of the asset manager’s stock valued at $262,795,000 after acquiring an additional 105,222 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in State Street by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,033,544 shares of the asset manager’s stock valued at $224,466,000 after acquiring an additional 259,729 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

STT has been the subject of several research analyst reports. Royal Bank of Canada raised their target price on State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group raised their target price on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. 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. Bank of America raised their target price on State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Finally, 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 report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, State Street has a consensus rating of “Hold” and an average price target of $90.11.

State Street Stock Up 0.5 %

Shares of NYSE STT opened at $89.34 on Friday. State Street Co. has a 52 week low of $62.78 and a 52 week high of $89.78. The business has a 50-day simple moving average of $84.14 and a two-hundred day simple moving average of $78.85. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.89. The company has a market cap of $26.91 billion, a P/E ratio of 16.73, a P/E/G ratio of 1.35 and a beta of 1.48.

State Street (NYSE:STT) last issued its 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. State Street had a return on equity of 11.78% and a net margin of 8.98%. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the company earned $2.17 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. Research analysts anticipate that State Street Co. will post 8.17 earnings per share for the current fiscal year.

State Street Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be paid a $0.76 dividend. This is an increase from State Street’s previous quarterly dividend of $0.69. This represents a $3.04 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, October 1st. State Street’s dividend payout ratio (DPR) 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.