State Street Co. (NYSE:STT) Shares Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd grew its position in shares of State Street Co. (NYSE:STT) by 4,096.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,458 shares of the asset manager’s stock after acquiring an additional 22,899 shares during the quarter. Plato Investment Management Ltd’s holdings in State Street were worth $1,814,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Comerica Bank increased its position in State Street by 51.2% in the 1st quarter. Comerica Bank now owns 151,865 shares of the asset manager’s stock valued at $11,742,000 after acquiring an additional 51,404 shares during the period. Tidal Investments LLC increased its holdings in shares of State Street by 6.7% during the first quarter. Tidal Investments LLC now owns 7,135 shares of the asset manager’s stock valued at $552,000 after purchasing an additional 448 shares during the period. Interval Partners LP raised its stake in shares of State Street by 80.2% during the first quarter. Interval Partners LP now owns 385,575 shares of the asset manager’s stock valued at $29,813,000 after purchasing an additional 171,553 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in State Street in the first quarter worth about $10,143,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in State Street by 541.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock valued at $58,117,000 after buying an additional 634,422 shares during the period. Institutional investors own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on STT. Bank of America boosted their price target 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. Morgan Stanley increased their price target on State Street from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 17th. Barclays boosted their price objective on State Street from $102.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Argus lifted their target price on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, Citigroup lifted their price objective on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $88.96.

State Street Stock Down 1.6 %

State Street stock traded down $1.34 during mid-day trading on Thursday, hitting $83.63. 1,342,803 shares of the company’s stock were exchanged, compared to its average volume of 2,272,574. State Street Co. has a 1-year low of $62.78 and a 1-year high of $86.25. The stock has a 50 day moving average of $76.51 and a two-hundred day moving average of $75.11. The stock has a market cap of $25.19 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.33 and a beta of 1.48. The company has a current ratio of 0.54, a quick ratio of 0.61 and a debt-to-equity ratio of 0.89.

State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.15 earnings per share 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 business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the business earned $2.17 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. As a group, analysts anticipate that State Street Co. will post 8.12 EPS for the current fiscal year.

State Street Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.76 per share. This is a positive change from State Street’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.64%. State Street’s payout ratio 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.