State Street Co. (NYSE:STT) Shares Sold by Morningstar Investment Management LLC

Morningstar Investment Management LLC lowered its position in shares of State Street Co. (NYSE:STT) by 8.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,920 shares of the asset manager’s stock after selling 1,163 shares during the quarter. Morningstar Investment Management LLC’s holdings in State Street were worth $956,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of STT. Norges Bank acquired a new stake in State Street during the fourth quarter valued at approximately $147,421,000. LSV Asset Management grew its holdings in shares of State Street by 30.6% during the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after purchasing an additional 1,238,251 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of State Street by 541.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock valued at $58,117,000 after purchasing an additional 634,422 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of State Street by 430.5% during the first quarter. SG Americas Securities LLC now owns 735,136 shares of the asset manager’s stock valued at $56,841,000 after purchasing an additional 596,567 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of State Street by 57.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,563,964 shares of the asset manager’s stock valued at $121,145,000 after purchasing an additional 573,016 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on STT. Wells Fargo & Company upped their target price on State Street from $91.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Morgan Stanley upped their target price on State Street from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Wednesday, July 17th. Wolfe Research reaffirmed an “underperform” rating and set a $73.00 target price on shares of State Street in a report on Monday, July 8th. Keefe, Bruyette & Woods decreased their price objective 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. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on State Street from $80.00 to $79.00 and set a “hold” rating for the company in a report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, State Street currently has a consensus rating of “Hold” and a consensus price target of $88.89.

State Street Stock Performance

Shares of NYSE STT opened at $82.58 on Friday. The stock has a fifty day moving average price of $81.82 and a two-hundred day moving average price of $76.93. 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 firm has a market cap of $24.66 billion, a P/E ratio of 15.46, a PEG ratio of 1.34 and a beta of 1.48. State Street Co. has a 1 year low of $62.78 and a 1 year high of $87.26.

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, beating analysts’ consensus estimates of $2.03 by $0.12. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. State Street had a return on equity of 11.78% and a net margin of 8.98%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company posted $2.17 EPS. Research analysts forecast that State Street Co. will post 8.14 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 3.68%. The ex-dividend date 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 51.69%.

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.