LVW Advisors LLC Has $407,000 Position in State Street Co. (NYSE:STT)

LVW Advisors LLC raised its position in State Street Co. (NYSE:STT) by 23.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,265 shares of the asset manager’s stock after purchasing an additional 1,004 shares during the period. LVW Advisors LLC’s holdings in State Street were worth $407,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of State Street during the fourth quarter worth $147,421,000. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of State Street during the fourth quarter worth $45,687,000. Balyasny Asset Management L.P. increased its position 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 worth $121,145,000 after acquiring an additional 573,016 shares in the last quarter. Metropolis Capital Ltd grew its position in State Street by 18.4% in the fourth quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager’s stock valued at $268,170,000 after purchasing an additional 537,431 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in State Street by 122.8% in the third quarter. AQR Capital Management LLC now owns 884,742 shares of the asset manager’s stock valued at $59,242,000 after purchasing an additional 487,671 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Price Performance

NYSE:STT opened at $74.00 on Monday. State Street Co. has a 52 week low of $62.78 and a 52 week high of $79.90. The firm has a market cap of $22.29 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 1.29 and a beta of 1.49. The firm’s 50-day simple moving average is $74.31 and its 200 day simple moving average is $74.66. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.61 and a current ratio of 0.61.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.06 billion. As a group, sell-side analysts predict that State Street Co. will post 7.94 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Monday, July 1st will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Monday, July 1st. State Street’s dividend payout ratio is 51.69%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 target price on shares of State Street in a research report on Wednesday, June 12th. Keefe, Bruyette & Woods decreased their target price on shares of State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a research report on Thursday. Argus raised their target price on shares of State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. increased their price target on shares of State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Finally, Evercore ISI increased their price target on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $83.88.

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.