State Street Co. (NYSE:STT) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its holdings in shares of State Street Co. (NYSE:STT) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 350,156 shares of the asset manager’s stock after purchasing an additional 5,066 shares during the quarter. American Century Companies Inc. owned about 0.12% of State Street worth $25,912,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Symmetry Partners LLC boosted its holdings in shares of State Street by 3.5% during the first quarter. Symmetry Partners LLC now owns 3,802 shares of the asset manager’s stock worth $294,000 after purchasing an additional 130 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of State Street by 3.4% during the first quarter. HB Wealth Management LLC now owns 4,309 shares of the asset manager’s stock worth $333,000 after purchasing an additional 140 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of State Street by 9.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock worth $129,000 after purchasing an additional 148 shares during the last quarter. Tompkins Financial Corp boosted its holdings in shares of State Street by 28.3% during the first quarter. Tompkins Financial Corp now owns 680 shares of the asset manager’s stock worth $53,000 after purchasing an additional 150 shares during the last quarter. Finally, Mather Group LLC. boosted its holdings in shares of State Street by 10.9% during the second quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock worth $125,000 after purchasing an additional 158 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

STT has been the topic of several research reports. Wells Fargo & Company increased their target price on State Street from $91.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Royal Bank of Canada increased their target price on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft cut their target price on State Street from $80.00 to $79.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. Wolfe Research reaffirmed an “underperform” rating and issued a $73.00 target price on shares of State Street in a research report on Monday, July 8th. Finally, Bank of America increased their target price on State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $88.89.

State Street Stock Up 0.5 %

Shares of State Street stock opened at $87.16 on Thursday. The business has a 50-day moving average of $82.73 and a 200-day moving average of $77.30. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market capitalization of $26.26 billion, a PE ratio of 16.32, a P/E/G ratio of 1.34 and a beta of 1.48. State Street Co. has a 1-year low of $62.78 and a 1-year high of $88.18.

State Street (NYSE:STT) last announced its 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 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 company’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $2.17 earnings per share. As a group, equities analysts forecast that State Street Co. will post 8.14 EPS for the current fiscal 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 paid a dividend of $0.76 per share. The ex-dividend date is Tuesday, October 1st. This is an increase from State Street’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a dividend yield of 3.49%. State Street’s dividend payout ratio (DPR) is currently 56.93%.

State Street Company 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.