State Street Co. (NYSE:STT) Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. cut its holdings in shares of State Street Co. (NYSE:STT) by 4.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,647 shares of the asset manager’s stock after selling 710 shares during the period. Epoch Investment Partners Inc.’s holdings in State Street were worth $1,158,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. ProShare Advisors LLC raised its stake in State Street by 3.4% in the second quarter. ProShare Advisors LLC now owns 79,042 shares of the asset manager’s stock valued at $5,849,000 after buying an additional 2,574 shares during the last quarter. Ensign Peak Advisors Inc boosted its stake in State Street by 39.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock worth $10,794,000 after purchasing an additional 41,180 shares in the last quarter. Sei Investments Co. grew its position in State Street by 14.5% during the 2nd quarter. Sei Investments Co. now owns 500,238 shares of the asset manager’s stock worth $37,017,000 after purchasing an additional 63,438 shares during the last quarter. Pacer Advisors Inc. grew its position in State Street by 4.6% during the 2nd quarter. Pacer Advisors Inc. now owns 20,939 shares of the asset manager’s stock worth $1,549,000 after purchasing an additional 922 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in State Street by 152.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 150,022 shares of the asset manager’s stock valued at $11,102,000 after purchasing an additional 90,500 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on STT. Keefe, Bruyette & Woods dropped 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 report on Thursday, June 27th. Evercore ISI boosted their price target on State Street from $88.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Barclays raised 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. Citigroup increased their price target on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, Wolfe Research reissued an “underperform” rating and set a $73.00 price target on shares of State Street in a research report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $89.46.

State Street Stock Up 0.7 %

STT stock opened at $89.13 on Tuesday. State Street Co. has a one year low of $62.78 and a one year high of $89.49. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.54 and a current ratio of 0.54. The firm’s fifty day moving average is $83.39 and its 200 day moving average is $77.67. The firm has a market cap of $26.85 billion, a PE ratio of 16.69, a P/E/G ratio of 1.38 and a beta of 1.48.

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

State Street Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders 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 dividend yield of 3.41%. State Street’s dividend payout ratio (DPR) is 56.93%.

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.