Susquehanna Fundamental Investments LLC Has $19.11 Million Holdings in State Street Co. (NYSE:STT)

Susquehanna Fundamental Investments LLC raised its holdings in shares of State Street Co. (NYSE:STT) by 66.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 258,251 shares of the asset manager’s stock after purchasing an additional 102,976 shares during the period. Susquehanna Fundamental Investments LLC owned 0.09% of State Street worth $19,111,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Maverick Capital Ltd. increased its stake in shares of State Street by 35.7% in the 2nd quarter. Maverick Capital Ltd. now owns 7,660 shares of the asset manager’s stock valued at $567,000 after acquiring an additional 2,014 shares during the last quarter. MBB Public Markets I LLC bought a new stake in shares of State Street in the 2nd quarter valued at about $1,629,000. AQR Capital Management LLC increased its stake in shares of State Street by 22.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,309,033 shares of the asset manager’s stock valued at $96,188,000 after acquiring an additional 237,110 shares during the last quarter. AXA S.A. increased its stake in shares of State Street by 123.5% in the 2nd quarter. AXA S.A. now owns 393,588 shares of the asset manager’s stock valued at $29,126,000 after acquiring an additional 217,452 shares during the last quarter. Finally, Abich Financial Wealth Management LLC increased its stake in State Street by 28.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,870 shares of the asset manager’s stock worth $138,000 after purchasing an additional 418 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on STT. Citigroup increased their target price on State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Wolfe Research reissued an “underperform” rating and set a $73.00 target price on shares of State Street in a research note on Monday, July 8th. Barclays raised their price target on shares of State Street from $102.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft raised their price target on shares of State Street from $79.00 to $87.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Finally, Evercore ISI raised their price target on shares of State Street from $88.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Two investment 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $89.61.

State Street Trading Up 0.1 %

NYSE STT opened at $88.20 on Friday. The company has a market cap of $26.57 billion, a PE ratio of 16.52, a PEG ratio of 1.44 and a beta of 1.48. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.89. State Street Co. has a 12 month low of $62.78 and a 12 month high of $89.49. The stock has a 50 day moving average of $83.61 and a 200-day moving average of $77.93.

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

State Street Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.76 per share. This is an increase 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 annualized dividend and a yield of 3.45%. State Street’s dividend payout ratio (DPR) is currently 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.