BI Asset Management Fondsmaeglerselskab A S Boosts Holdings in State Street Co. (NYSE:STT)

BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of State Street Co. (NYSE:STT) by 39.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,233 shares of the asset manager’s stock after buying an additional 4,337 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in State Street were worth $1,178,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC bought a new position in State Street in the 4th quarter worth $27,000. Venturi Wealth Management LLC lifted its position in shares of State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after buying an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of State Street during the 4th quarter valued at approximately $35,000. Norwood Financial Corp purchased a new stake in State Street in the 1st quarter worth approximately $35,000. Finally, Accent Capital Management LLC bought a new stake in State Street during the 4th quarter worth approximately $39,000. 87.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on STT shares. JPMorgan Chase & Co. increased their price objective on shares of State Street from $79.50 to $80.50 in a research note on Friday, April 12th. UBS Group raised their price target on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Argus boosted their target price on shares of State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $85.00 target price on shares of State Street in a research note on Monday, July 1st. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price target on shares of State Street in a report on Wednesday, June 12th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $83.11.

State Street Trading Up 1.1 %

NYSE STT traded up $0.80 during trading hours on Wednesday, hitting $75.22. 535,471 shares of the company were exchanged, compared to its average volume of 2,259,614. The stock has a market cap of $22.66 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.27 and a beta of 1.48. State Street Co. has a 52 week low of $62.78 and a 52 week high of $79.90. The stock has a 50-day moving average price of $74.33 and a 200 day moving average price of $74.49. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.90.

State Street (NYSE:STT) last released its earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.21. The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.06 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. Analysts forecast that State Street Co. will post 7.95 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Monday, July 1st will be issued a $0.69 dividend. The ex-dividend date is Monday, July 1st. This represents a $2.76 annualized dividend and a dividend yield of 3.67%. State Street’s dividend payout ratio (DPR) is presently 51.69%.

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.