Ensign Peak Advisors Inc Has $10.79 Million Stock Holdings in State Street Co. (NYSE:STT)

Ensign Peak Advisors Inc raised its position in State Street Co. (NYSE:STT) by 39.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 145,859 shares of the asset manager’s stock after acquiring an additional 41,180 shares during the period. Ensign Peak Advisors Inc’s holdings in State Street were worth $10,794,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. LRI Investments LLC bought a new stake in State Street in the first quarter valued at about $25,000. Ashton Thomas Private Wealth LLC bought a new position in shares of State Street during the 2nd quarter worth approximately $27,000. Norwood Financial Corp acquired a new stake in State Street in the 1st quarter valued at $35,000. Versant Capital Management Inc lifted its holdings in shares of State Street by 411.9% during the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 416 shares during the period. Finally, Accent Capital Management LLC bought a new stake in shares of State Street in the 4th quarter worth about $39,000. Institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on STT. Royal Bank of Canada boosted their price target on shares of State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 17th. Wells Fargo & Company raised their target price on State Street from $91.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods reduced their price target on shares of State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. The Goldman Sachs Group raised their price objective on shares of State Street from $89.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley upped their target price on shares of State Street from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 17th. Two research 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $89.46.

State Street Price Performance

STT opened at $88.91 on Wednesday. The stock has a market cap of $26.78 billion, a P/E ratio of 16.65, a P/E/G ratio of 1.38 and a beta of 1.48. 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 fifty day simple moving average of $83.47 and a 200 day simple moving average of $77.79.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, July 16th. The asset manager reported $2.15 EPS for the quarter, topping 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 company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the firm posted $2.17 earnings per share. State Street’s revenue was up 2.6% compared to the same quarter last year. On average, research analysts expect that State Street Co. will post 8.15 EPS for the current year.

State Street Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a $0.76 dividend. This is a boost from State Street’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Tuesday, October 1st. State Street’s payout ratio is currently 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.