Krilogy Financial LLC Purchases Shares of 11,293 State Street Co. (NYSE:STT)

Krilogy Financial LLC purchased a new stake in State Street Co. (NYSE:STTGet Rating) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,293 shares of the asset manager’s stock, valued at approximately $696,000.

A number of other hedge funds also recently bought and sold shares of STT. Norges Bank acquired a new stake in State Street in the 4th quarter valued at about $259,564,000. Invesco Ltd. raised its position in shares of State Street by 36.4% during the 1st quarter. Invesco Ltd. now owns 9,955,009 shares of the asset manager’s stock worth $867,281,000 after acquiring an additional 2,654,101 shares in the last quarter. Metropolis Capital Ltd raised its position in shares of State Street by 69.1% during the 2nd quarter. Metropolis Capital Ltd now owns 3,167,517 shares of the asset manager’s stock worth $195,277,000 after acquiring an additional 1,293,980 shares in the last quarter. Eaton Vance Management raised its position in shares of State Street by 159.8% during the 1st quarter. Eaton Vance Management now owns 1,750,857 shares of the asset manager’s stock worth $152,535,000 after acquiring an additional 1,077,013 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of State Street by 438.7% during the 1st quarter. Victory Capital Management Inc. now owns 935,663 shares of the asset manager’s stock worth $74,067,000 after acquiring an additional 761,958 shares in the last quarter. Institutional investors and hedge funds own 89.17% of the company’s stock.

State Street Stock Down 2.5 %

State Street stock opened at $66.08 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.53. State Street Co. has a 1-year low of $58.79 and a 1-year high of $104.87. The company has a market cap of $24.29 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 1.17 and a beta of 1.60. The stock’s 50 day moving average price is $70.15 and its 200 day moving average price is $72.11.

State Street Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Monday, October 3rd will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, September 30th. This is an increase from State Street’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.81%. State Street’s payout ratio is 31.58%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their target price on State Street from $67.00 to $74.00 in a research report on Friday, August 12th. Citigroup lifted their price target on State Street to $74.00 in a research report on Friday, July 22nd. Morgan Stanley cut their price target on State Street from $106.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 6th. JPMorgan Chase & Co. lowered their target price on State Street from $82.00 to $74.50 in a research note on Monday, July 11th. Finally, Wells Fargo & Company lowered their target price on State Street from $95.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Friday, July 1st. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $84.81.

State Street Company Profile

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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; product accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

See Also

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

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