Teachers Retirement System of The State of Kentucky Boosts Stake in State Street Co. (NYSE:STT)

Teachers Retirement System of The State of Kentucky grew its holdings in State Street Co. (NYSE:STT) by 1,078.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 305,973 shares of the asset manager’s stock after buying an additional 280,019 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.10% of State Street worth $22,642,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of STT. LRI Investments LLC bought a new position in shares of State Street during the first quarter valued at approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new position in State Street in the 2nd quarter worth about $27,000. Norwood Financial Corp purchased a new stake in State Street in the 1st quarter valued at about $35,000. Accent Capital Management LLC bought a new position in State Street in the 4th quarter worth about $39,000. Finally, Quarry LP purchased a new stake in shares of State Street in the fourth quarter valued at approximately $39,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wolfe Research reiterated an “underperform” rating and issued a $73.00 target price on shares of State Street in a report on Monday, July 8th. Morgan Stanley boosted their target price on shares of State Street from $93.00 to $100.00 and gave the stock an “equal weight” rating in a report on Monday. Bank of America boosted 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 price target on shares of State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Finally, The Goldman Sachs Group increased their price target on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.11.

State Street Trading Up 0.3 %

State Street stock opened at $88.47 on Tuesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.89. The firm has a market cap of $26.65 billion, a PE ratio of 16.57, a P/E/G ratio of 1.44 and a beta of 1.48. The stock’s 50 day simple moving average is $83.78 and its two-hundred day simple moving average is $78.23. State Street Co. has a 12 month low of $62.78 and a 12 month high of $89.49.

State Street (NYSE:STT) last posted its earnings results on Tuesday, July 16th. The asset manager reported $2.15 EPS for the quarter, beating 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 firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the firm earned $2.17 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts anticipate that State Street Co. will post 8.15 earnings per share for the current year.

State Street Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be paid a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.44%. This is a boost from State Street’s previous quarterly dividend of $0.69. 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.