AMG National Trust Bank Buys 197 Shares of State Street Co. (NYSE:STT)

AMG National Trust Bank increased its stake in shares of State Street Co. (NYSE:STTGet Rating) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,597 shares of the asset manager’s stock after buying an additional 197 shares during the quarter. AMG National Trust Bank’s holdings in State Street were worth $280,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of State Street by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 34,410,077 shares of the asset manager’s stock worth $2,997,806,000 after buying an additional 146,048 shares during the period. Cooke & Bieler LP lifted its position in shares of State Street by 37.6% during the 2nd quarter. Cooke & Bieler LP now owns 4,095,509 shares of the asset manager’s stock worth $252,489,000 after buying an additional 1,118,713 shares during the period. Nordea Investment Management AB raised its position in State Street by 5.5% in the 2nd quarter. Nordea Investment Management AB now owns 3,572,222 shares of the asset manager’s stock valued at $216,905,000 after purchasing an additional 185,913 shares during the last quarter. Coho Partners Ltd. raised its position in State Street by 3.9% in the 3rd quarter. Coho Partners Ltd. now owns 2,584,916 shares of the asset manager’s stock valued at $157,189,000 after purchasing an additional 96,321 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in State Street by 2.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,941,190 shares of the asset manager’s stock valued at $169,117,000 after purchasing an additional 44,428 shares during the last quarter. Institutional investors own 88.41% of the company’s stock.

State Street Stock Up 0.9 %

Shares of State Street stock opened at $87.03 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 0.65. State Street Co. has a 12 month low of $58.62 and a 12 month high of $103.76. The business has a fifty day simple moving average of $79.00 and a 200 day simple moving average of $72.61. The stock has a market cap of $31.93 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.44 and a beta of 1.57.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Tuesday, January 3rd were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, December 30th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.90%. State Street’s dividend payout ratio (DPR) is presently 35.05%.

Analysts Set New Price Targets

Several brokerages have issued reports on STT. Wells Fargo & Company lifted their price objective on State Street to $86.00 in a research report on Monday, December 12th. Citigroup lifted their price objective on State Street from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, December 1st. Morgan Stanley lifted their price objective on State Street from $88.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday. Bank of America initiated coverage on State Street in a research report on Thursday, January 12th. They issued a “neutral” rating and a $86.00 price objective for the company. Finally, The Goldman Sachs Group initiated coverage on State Street in a research report on Wednesday, January 4th. They set a “neutral” rating for the company. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, State Street has an average rating of “Hold” and an average price target of $87.68.

About State Street

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State Street Corp. operates as a financial holding company. It conducts business primarily through State Street Bank. The firm operates through following business lines: Investment Servicing and Investment Management. The Investment Servicing business offers custody, product and participant-level accounting, daily pricing and administration, master trust and master custody, record-keeping, cash management, foreign exchange, brokerage and other trading services, securities finance, deposit and short-term investment facilities, loans and lease financing, investment manager and alternative investment manager operations outsourcing, and performance, risk and compliance analytics.

Further Reading

Institutional Ownership by Quarter for State Street (NYSE:STT)

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