131,181 Shares in State Street Co. (NYSE:STT) Acquired by Invenomic Capital Management LP

Invenomic Capital Management LP acquired a new position in State Street Co. (NYSE:STT) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 131,181 shares of the asset manager’s stock, valued at approximately $10,143,000.

Several other institutional investors also recently modified their holdings of the stock. Capital International Investors boosted its stake in State Street by 0.5% in the first quarter. Capital International Investors now owns 6,626,753 shares of the asset manager’s stock worth $512,381,000 after buying an additional 31,314 shares in the last quarter. LSV Asset Management boosted its stake in State Street by 10.5% in the first quarter. LSV Asset Management now owns 4,044,135 shares of the asset manager’s stock worth $312,693,000 after buying an additional 385,404 shares in the last quarter. Metropolis Capital Ltd boosted its stake in shares of State Street by 5.3% during the first quarter. Metropolis Capital Ltd now owns 3,645,635 shares of the asset manager’s stock valued at $281,880,000 after purchasing an additional 183,591 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of State Street by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,597,783 shares of the asset manager’s stock valued at $201,243,000 after purchasing an additional 79,746 shares during the period. Finally, Putnam Investments LLC boosted its stake in shares of State Street by 5.8% during the fourth quarter. Putnam Investments LLC now owns 2,343,254 shares of the asset manager’s stock valued at $181,508,000 after purchasing an additional 129,493 shares during the period. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Up 0.9 %

STT traded up $0.78 during trading on Tuesday, reaching $85.70. The stock had a trading volume of 1,152,047 shares, compared to its average volume of 2,285,267. The stock’s 50 day moving average is $76.17 and its two-hundred day moving average is $74.97. The company has a current ratio of 0.54, a quick ratio of 0.61 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $25.82 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 1.32 and a beta of 1.49. State Street Co. has a one year low of $62.78 and a one year high of $86.25.

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 analysts’ consensus estimates 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 in the prior year, the company earned $2.17 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, analysts expect that State Street Co. will post 8.12 earnings per share for the current year.

State Street Increases Dividend

The business also recently declared 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. 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. This represents a $3.04 annualized dividend and a dividend yield of 3.55%. State Street’s dividend payout ratio (DPR) is presently 51.69%.

Analyst Ratings Changes

A number of research firms have recently weighed in on STT. Barclays increased their price objective on State Street from $102.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods dropped their price objective on State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a research note on Thursday, June 27th. Deutsche Bank Aktiengesellschaft upped their target price on State Street from $75.00 to $80.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Wolfe Research restated an “underperform” rating and set a $73.00 target price on shares of State Street in a report on Monday, July 8th. Finally, Royal Bank of Canada upped 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 given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $88.96.

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.