State Street Co. (NYSE:STT) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its position in shares of State Street Co. (NYSE:STT) by 40.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,606 shares of the asset manager’s stock after purchasing an additional 1,616 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in State Street were worth $415,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of STT. LRI Investments LLC purchased a new stake in shares of State Street in the 1st quarter worth about $25,000. Ashton Thomas Private Wealth LLC acquired a new position in State Street during the second quarter worth about $27,000. Norwood Financial Corp acquired a new position in State Street during the first quarter worth about $35,000. Versant Capital Management Inc lifted its holdings in shares of State Street by 411.9% in the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 416 shares in the last quarter. Finally, Accent Capital Management LLC acquired a new stake in shares of State Street in the fourth quarter valued at approximately $39,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Price Performance

State Street stock opened at $87.16 on Thursday. The firm has a fifty day moving average of $82.73 and a 200-day moving average of $77.30. State Street Co. has a 52-week low of $62.78 and a 52-week high of $88.18. 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 firm has a market capitalization of $26.26 billion, a P/E ratio of 16.32, a PEG ratio of 1.34 and a beta of 1.48.

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. 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 period last year, the company posted $2.17 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. As a group, analysts predict that State Street Co. will post 8.14 EPS for the current year.

State Street Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be given a $0.76 dividend. This is an increase from State Street’s previous quarterly dividend of $0.69. The ex-dividend date is Tuesday, October 1st. This represents a $3.04 annualized dividend and a yield of 3.49%. State Street’s dividend payout ratio (DPR) is 56.93%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Barclays upped their target price on State Street from $102.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods reduced their price objective on 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. Wells Fargo & Company increased their price objective on State Street from $91.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Citigroup boosted their target price on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley raised their price target on shares of State Street from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, State Street has an average rating of “Hold” and a consensus price target of $88.89.

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.