LVW Advisors LLC Has $462,000 Position in State Street Co. (NYSE:STT)

LVW Advisors LLC boosted its holdings in shares of State Street Co. (NYSE:STT) by 18.5% in the second quarter, Holdings Channel.com reports. The fund owned 6,239 shares of the asset manager’s stock after buying an additional 974 shares during the quarter. LVW Advisors LLC’s holdings in State Street were worth $462,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Czech National Bank increased its stake in shares of State Street by 8.1% in the 2nd quarter. Czech National Bank now owns 57,408 shares of the asset manager’s stock valued at $4,248,000 after acquiring an additional 4,281 shares during the last quarter. Allied Investment Advisors LLC raised its holdings in State Street by 1.6% during the 2nd quarter. Allied Investment Advisors LLC now owns 117,278 shares of the asset manager’s stock worth $8,679,000 after buying an additional 1,894 shares during the period. Cardinal Capital Management grew its holdings in shares of State Street by 0.4% during the second quarter. Cardinal Capital Management now owns 53,157 shares of the asset manager’s stock worth $3,934,000 after buying an additional 204 shares in the last quarter. BDF Gestion acquired a new position in shares of State Street during the 2nd quarter worth approximately $1,956,000. Finally, Juncture Wealth Strategies LLC bought a new stake in shares of State Street during the 2nd quarter worth approximately $234,000. Institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

STT has been the subject of a number of research analyst reports. Argus lifted their price target on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods cut their price target on State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a report on Thursday, June 27th. Morgan Stanley lifted their price objective on shares of State Street from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 17th. Citigroup raised their target price on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, Bank of America upped their price target on shares of State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Two investment 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $88.96.

State Street Trading Up 0.4 %

Shares of NYSE:STT traded up $0.34 during midday trading on Tuesday, hitting $77.87. 115,649 shares of the stock were exchanged, compared to its average volume of 2,240,249. The business’s 50-day moving average price is $77.12 and its 200 day moving average price is $75.32. The stock has a market capitalization of $23.25 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 1.21 and a beta of 1.48. State Street Co. has a 12 month low of $62.78 and a 12 month high of $86.25. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.54 and a current ratio of 0.54.

State Street (NYSE:STT) last announced its quarterly earnings results 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. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. State Street had a net margin of 8.98% and a return on equity of 11.78%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.17 EPS. Analysts predict 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. Shareholders of record on Tuesday, October 1st will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.90%. This is a boost from State Street’s previous quarterly dividend of $0.69. The ex-dividend date is Tuesday, October 1st. State Street’s dividend payout ratio (DPR) is presently 51.69%.

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.