Vanguard Personalized Indexing Management LLC Has $2.57 Million Stock Holdings in State Street Co. (NYSE:STT)

Vanguard Personalized Indexing Management LLC raised its stake in State Street Co. (NYSE:STT) by 10.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,774 shares of the asset manager’s stock after buying an additional 3,230 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in State Street were worth $2,573,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new position 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 valued at about $27,000. Norwood Financial Corp acquired a new position in shares of State Street in the 1st quarter valued at approximately $35,000. Accent Capital Management LLC bought a new stake in State Street during the 4th quarter worth approximately $39,000. Finally, Quarry LP acquired a new stake in shares of State Street during the fourth quarter worth $39,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Price Performance

NYSE:STT opened at $88.50 on Friday. 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 stock’s 50 day moving average price is $83.19 and its two-hundred day moving average price is $77.48. The firm has a market capitalization of $26.43 billion, a price-to-earnings ratio of 16.57, 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 $89.42.

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

State Street Increases Dividend

The company 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 $0.76 dividend. 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 dividend yield of 3.44%. State Street’s dividend payout ratio is presently 51.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on STT shares. Wolfe Research reiterated an “underperform” rating and set a $73.00 target price on shares of State Street in a report on Monday, July 8th. Citigroup lifted their price target 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. Bank of America increased their price objective on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Royal Bank of Canada lifted their target price on State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 17th. Finally, The Goldman Sachs Group upped their target price on State Street from $89.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.