Lombard Odier Asset Management Europe Ltd Has $2.69 Million Holdings in State Street Co. (NYSE:STT)

Lombard Odier Asset Management Europe Ltd cut its position in shares of State Street Co. (NYSE:STT) by 0.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,291 shares of the asset manager’s stock after selling 179 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in State Street were worth $2,686,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of State Street by 4.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 941,404 shares of the asset manager’s stock worth $72,789,000 after acquiring an additional 40,835 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in State Street by 3.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,891 shares of the asset manager’s stock valued at $15,376,000 after buying an additional 6,363 shares during the last quarter. M&G Plc bought a new stake in State Street during the 1st quarter worth about $7,626,000. Public Employees Retirement Association of Colorado boosted its stake in shares of State Street by 298.6% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 37,888 shares of the asset manager’s stock worth $2,935,000 after buying an additional 28,382 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of State Street by 127.8% in the 1st quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock valued at $3,433,000 after acquiring an additional 24,906 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analysts Set New Price Targets

STT has been the subject of several recent research reports. 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 report on Wednesday, July 17th. The Goldman Sachs Group increased their price objective on State Street from $89.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Bank of America boosted their target price on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Barclays increased their price target on shares of State Street from $102.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a research note on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $89.46.

State Street Trading Up 0.7 %

Shares of State Street stock opened at $89.13 on Tuesday. The firm’s 50-day moving average price is $83.39 and its two-hundred day moving average price is $77.67. State Street Co. has a 12-month low of $62.78 and a 12-month high of $89.49. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $26.85 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 1.38 and a beta of 1.48.

State Street (NYSE:STT) last released its earnings results on Tuesday, July 16th. The asset manager reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.12. State Street had a return on equity of 11.78% and a net margin of 8.98%. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the company earned $2.17 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts forecast that State Street Co. will post 8.15 earnings per share for the current fiscal year.

State Street Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.76 per share. This is a boost from State Street’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Tuesday, October 1st. State Street’s payout ratio is 56.93%.

State Street 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.