Diversified Trust Co Increases Stock Position in State Street Co. (NYSE:STT)

Diversified Trust Co raised its position in shares of State Street Co. (NYSE:STT) by 252.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,848 shares of the asset manager’s stock after buying an additional 27,832 shares during the quarter. Diversified Trust Co’s holdings in State Street were worth $3,004,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STT. CVA Family Office LLC purchased a new position in shares of State Street in the 4th quarter worth about $27,000. Venturi Wealth Management LLC raised its position in shares of State Street by 92.5% in the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after purchasing an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of State Street in the 4th quarter worth about $35,000. Norwood Financial Corp purchased a new position in shares of State Street in the 1st quarter worth about $35,000. Finally, Accent Capital Management LLC purchased a new position in shares of State Street in the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Trading Up 0.3 %

Shares of NYSE:STT opened at $73.56 on Tuesday. The stock has a 50 day moving average of $74.31 and a 200 day moving average of $74.66. The company has a market cap of $22.16 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.29 and a beta of 1.49. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.90. State Street Co. has a 12-month low of $62.78 and a 12-month high of $79.90.

State Street (NYSE:STT) last posted 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 return on equity of 12.03% and a net margin of 9.62%. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.06 billion. As a group, equities research analysts expect that State Street Co. will post 7.94 EPS 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 issued a $0.69 dividend. The ex-dividend date is Monday, July 1st. This represents a $2.76 dividend on an annualized basis and a yield of 3.75%. State Street’s dividend payout ratio is presently 51.69%.

Analyst Upgrades and Downgrades

STT has been the subject of several recent analyst reports. UBS Group lifted their price target on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. lifted their price objective on State Street from $79.50 to $80.50 in a report on Friday, April 12th. 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. Keefe, Bruyette & Woods reduced their price objective on State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a report on Thursday, June 27th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $85.00 price objective on shares of State Street in a report on Monday. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, State Street currently 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.