Jacobi Capital Management LLC Acquires 1,041 Shares of State Street Co. (NYSE:STT)

Jacobi Capital Management LLC boosted its holdings in shares of State Street Co. (NYSE:STT) by 10.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,367 shares of the asset manager’s stock after buying an additional 1,041 shares during the quarter. Jacobi Capital Management LLC’s holdings in State Street were worth $879,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Symmetry Partners LLC lifted its stake in shares of State Street by 3.5% in the first quarter. Symmetry Partners LLC now owns 3,802 shares of the asset manager’s stock worth $294,000 after buying an additional 130 shares during the last quarter. HB Wealth Management LLC lifted its position in State Street by 3.4% during the 1st quarter. HB Wealth Management LLC now owns 4,309 shares of the asset manager’s stock worth $333,000 after acquiring an additional 140 shares during the last quarter. Tompkins Financial Corp boosted its holdings in State Street by 28.3% during the first quarter. Tompkins Financial Corp now owns 680 shares of the asset manager’s stock valued at $53,000 after acquiring an additional 150 shares during the period. CWM LLC grew its position in shares of State Street by 2.6% in the first quarter. CWM LLC now owns 6,435 shares of the asset manager’s stock valued at $498,000 after purchasing an additional 165 shares during the last quarter. Finally, Syon Capital LLC increased its stake in shares of State Street by 3.7% in the fourth quarter. Syon Capital LLC now owns 4,735 shares of the asset manager’s stock worth $367,000 after purchasing an additional 168 shares during the period. 87.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on STT shares. Wells Fargo & Company increased their target price on State Street from $91.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. raised their price objective on shares of State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Evercore ISI upped their target price on shares of State Street from $88.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. UBS Group increased their price target on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Bank of America boosted their price objective on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $88.96.

State Street Price Performance

Shares of STT traded down $0.49 during mid-day trading on Monday, reaching $84.00. The company had a trading volume of 1,689,772 shares, compared to its average volume of 2,311,850. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.54 and a quick ratio of 0.61. The company has a market capitalization of $25.31 billion, a P/E ratio of 15.75, a P/E/G ratio of 1.32 and a beta of 1.48. State Street Co. has a twelve month low of $62.78 and a twelve month high of $86.24. The company’s 50-day moving average is $75.32 and its 200-day moving average is $74.68.

State Street (NYSE:STT) last released its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.15 earnings per share (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 firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the company posted $2.17 earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts anticipate that State Street Co. will post 8.11 EPS for the current year.

State Street Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.76 per share. This is an increase from State Street’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Tuesday, October 1st. State Street’s dividend payout ratio (DPR) is currently 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.