Epoch Investment Partners Inc. Has $1.27 Million Stock Holdings in State Street Co. (NYSE:STT)

Epoch Investment Partners Inc. lessened its stake in shares of State Street Co. (NYSE:STT) by 6.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,357 shares of the asset manager’s stock after selling 1,110 shares during the quarter. Epoch Investment Partners Inc.’s holdings in State Street were worth $1,265,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of STT. Norges Bank acquired a new position in shares of State Street during the fourth quarter valued at about $147,421,000. SG Americas Securities LLC raised 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 period. Balyasny Asset Management L.P. raised 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 period. LSV Asset Management raised its holdings in shares of State Street by 10.5% during the first quarter. LSV Asset Management now owns 4,044,135 shares of the asset manager’s stock valued at $312,693,000 after purchasing an additional 385,404 shares during the period. Finally, Mawer Investment Management Ltd. raised its holdings in shares of State Street by 41.1% during the first quarter. Mawer Investment Management Ltd. now owns 1,318,441 shares of the asset manager’s stock valued at $101,942,000 after purchasing an additional 383,744 shares during the period. Institutional investors own 87.44% of the company’s stock.

State Street Price Performance

Shares of State Street stock traded up $0.40 on Friday, hitting $85.29. 1,509,865 shares of the company traded hands, compared to its average volume of 2,383,783. The firm’s 50-day simple moving average is $76.02 and its 200 day simple moving average is $74.92. 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 cap of $25.69 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.32 and a beta of 1.48. State Street Co. has a 12-month low of $62.78 and a 12-month high of $86.24.

State Street (NYSE:STT) last released its earnings results on Tuesday, July 16th. The asset manager reported $2.15 EPS for the quarter, beating the consensus estimate of $2.03 by $0.12. State Street had a net margin of 8.98% and a return on equity of 11.78%. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the firm earned $2.17 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts expect that State Street Co. will post 8.12 earnings per share for the current fiscal year.

State Street Increases Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, October 1st. This represents a $3.04 annualized dividend 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 (DPR) is currently 51.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on STT shares. Royal Bank of Canada upped their target price on shares of State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Argus upped 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. Bank of America upped their price objective on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Barclays upped their price objective on shares of State Street from $102.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley raised their price objective on shares of State Street from $90.00 to $93.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $88.96.

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.