State Street Co. (NYSE:STT) Shares Acquired by Interval Partners LP

Interval Partners LP grew its position in State Street Co. (NYSE:STT) by 80.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 385,575 shares of the asset manager’s stock after buying an additional 171,553 shares during the quarter. State Street accounts for 0.8% of Interval Partners LP’s holdings, making the stock its 21st largest holding. Interval Partners LP owned approximately 0.13% of State Street worth $29,813,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital International Investors grew its stake in State Street by 0.5% during the 1st quarter. Capital International Investors now owns 6,626,753 shares of the asset manager’s stock worth $512,381,000 after purchasing an additional 31,314 shares in the last quarter. LSV Asset Management grew its stake in State Street by 10.5% during the 1st quarter. LSV Asset Management now owns 4,044,135 shares of the asset manager’s stock worth $312,693,000 after purchasing an additional 385,404 shares in the last quarter. Metropolis Capital Ltd grew its stake in State Street by 5.3% during the 1st quarter. Metropolis Capital Ltd now owns 3,645,635 shares of the asset manager’s stock worth $281,880,000 after purchasing an additional 183,591 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in State Street by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,597,783 shares of the asset manager’s stock worth $201,243,000 after purchasing an additional 79,746 shares in the last quarter. Finally, Putnam Investments LLC grew its stake in State Street by 5.8% during the 4th quarter. Putnam Investments LLC now owns 2,343,254 shares of the asset manager’s stock worth $181,508,000 after purchasing an additional 129,493 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Stock Performance

Shares of NYSE STT traded up $0.78 during trading hours on Tuesday, reaching $85.70. The stock had a trading volume of 1,152,047 shares, compared to its average volume of 2,285,267. The firm has a market cap of $25.82 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.32 and a beta of 1.49. The company has a current ratio of 0.54, a quick ratio of 0.61 and a debt-to-equity ratio of 0.89. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $86.25. The firm has a 50-day moving average of $76.17 and a 200-day moving average of $74.97.

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 the consensus estimate of $2.03 by $0.12. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. State Street had a return on equity of 11.78% and a net margin of 8.98%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.17 EPS. Equities research analysts predict that State Street Co. will post 8.12 earnings per share for the current year.

State Street Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.76 per share. The ex-dividend date is Tuesday, October 1st. This is an increase from State Street’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a yield of 3.55%. State Street’s dividend payout ratio is currently 51.69%.

Wall Street Analyst Weigh In

Several research firms recently commented on STT. Wolfe Research reissued an “underperform” rating and set a $73.00 target price on shares of State Street in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft upped their price objective on State Street from $75.00 to $80.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group upped their price objective on State Street from $89.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Royal Bank of Canada upped their price objective on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 17th. Finally, UBS Group upped their price objective on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Two equities research 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 MarketBeat, State Street presently has an average rating of “Hold” and a consensus price target of $88.96.

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.