Bokf Na Sells 290 Shares of State Street Co. (NYSE:STT)

Bokf Na cut its position in shares of State Street Co. (NYSE:STT) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,588 shares of the asset manager’s stock after selling 290 shares during the quarter. Bokf Na’s holdings in State Street were worth $1,590,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Lazard Asset Management LLC boosted its position in shares of State Street by 168.7% during the first quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock valued at $62,469,000 after purchasing an additional 507,270 shares in the last quarter. LRI Investments LLC bought a new stake in shares of State Street during the first quarter valued at approximately $73,000. Canada Pension Plan Investment Board boosted its position in shares of State Street by 108.6% during the first quarter. Canada Pension Plan Investment Board now owns 615,514 shares of the asset manager’s stock valued at $47,592,000 after purchasing an additional 320,414 shares in the last quarter. Capital International Sarl boosted its position in shares of State Street by 3.3% during the first quarter. Capital International Sarl now owns 32,673 shares of the asset manager’s stock valued at $2,526,000 after purchasing an additional 1,048 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of State Street by 0.5% during the first quarter. Capital International Investors now owns 6,626,753 shares of the asset manager’s stock valued at $512,381,000 after purchasing an additional 31,314 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Performance

State Street stock traded up $0.40 during mid-day trading on Friday, reaching $85.29. 1,509,865 shares of the stock traded hands, compared to its average volume of 2,383,783. The stock has a market capitalization of $25.69 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.32 and a beta of 1.48. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.54 and a quick ratio of 0.61. State Street Co. has a 12-month low of $62.78 and a 12-month high of $86.24. The business’s 50-day moving average is $76.02 and its 200-day moving average is $74.92.

State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. State Street had a return on equity of 11.78% and a net margin of 8.98%. State Street’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 business earned $2.17 earnings per share. As a group, sell-side analysts predict that State Street Co. will post 8.12 EPS for the current fiscal year.

State Street Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Tuesday, October 1st. This is a boost from State Street’s previous quarterly dividend of $0.69. State Street’s dividend payout ratio is 51.69%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on STT shares. UBS Group lifted their price objective on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. The Goldman Sachs Group lifted their price objective on State Street from $89.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on State Street from $75.00 to $80.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. Evercore ISI lifted their price objective on State Street from $88.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods lowered their price objective on State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a research note on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $88.96.

About State Street

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.