Bokf Na Trims Stock Position in State Street Co. (NYSE:STT)

Bokf Na lowered its stake in shares of State Street Co. (NYSE:STT) by 1.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 20,588 shares of the asset manager’s stock after selling 290 shares during the period. Bokf Na’s holdings in State Street were worth $1,590,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Capital International Investors raised its stake in shares of 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 buying an additional 31,314 shares during the last quarter. LSV Asset Management boosted its holdings in State Street by 10.5% in the 1st 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 during the last quarter. Metropolis Capital Ltd boosted its holdings in State Street by 5.3% in the 1st quarter. Metropolis Capital Ltd now owns 3,645,635 shares of the asset manager’s stock worth $281,880,000 after buying an additional 183,591 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in State Street by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,597,783 shares of the asset manager’s stock worth $201,243,000 after buying an additional 79,746 shares during the last quarter. Finally, Putnam Investments LLC boosted its holdings in State Street by 5.8% in the 4th quarter. Putnam Investments LLC now owns 2,343,254 shares of the asset manager’s stock worth $181,508,000 after buying an additional 129,493 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Trading Up 0.5 %

NYSE STT traded up $0.40 on Friday, reaching $85.29. The stock had a trading volume of 1,509,865 shares, compared to its average volume of 2,383,783. The firm has a market capitalization of $25.69 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 1.32 and a beta of 1.48. The company has a quick ratio of 0.61, a current ratio of 0.54 and a debt-to-equity ratio of 0.89. State Street Co. has a 12-month low of $62.78 and a 12-month high of $86.24. The stock has a fifty day moving average price of $76.02 and a two-hundred day moving average price of $74.92.

State Street (NYSE:STT) last announced its 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. State Street had a return on equity of 11.78% and a net margin of 8.98%. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous 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, sell-side analysts forecast that State Street Co. will post 8.12 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. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.56%. This is a positive change from State Street’s previous quarterly dividend of $0.69. State Street’s dividend payout ratio is currently 51.69%.

Analysts Set New Price Targets

STT has been the topic of several research analyst reports. Evercore ISI lifted their price objective on State Street from $88.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods lowered their price objective on State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Argus lifted their price objective on 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 boosted their target price on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Finally, 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the 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 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.