Longfellow Investment Management Co. LLC Has $909,000 Position in State Street Co. (NYSE:STT)

Longfellow Investment Management Co. LLC raised its stake in State Street Co. (NYSE:STTFree Report) by 40.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,581 shares of the asset manager’s stock after purchasing an additional 3,920 shares during the quarter. Longfellow Investment Management Co. LLC’s holdings in State Street were worth $909,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of STT. State of Wyoming raised its stake in shares of State Street by 51.3% in the second quarter. State of Wyoming now owns 619 shares of the asset manager’s stock worth $45,000 after purchasing an additional 210 shares during the last quarter. Covestor Ltd increased its position in shares of State Street by 69.2% during the first quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 234 shares during the last quarter. IFP Advisors Inc increased its position in shares of State Street by 24.9% during the second quarter. IFP Advisors Inc now owns 733 shares of the asset manager’s stock valued at $54,000 after acquiring an additional 146 shares during the last quarter. Savior LLC increased its position in shares of State Street by 90.4% during the third quarter. Savior LLC now owns 857 shares of the asset manager’s stock valued at $57,000 after acquiring an additional 407 shares during the last quarter. Finally, MV Capital Management Inc. increased its position in shares of State Street by 234.3% during the second quarter. MV Capital Management Inc. now owns 916 shares of the asset manager’s stock valued at $67,000 after acquiring an additional 642 shares during the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.

State Street Price Performance

State Street stock traded up $0.76 during midday trading on Monday, hitting $73.60. 1,516,626 shares of the company’s stock were exchanged, compared to its average volume of 2,260,032. State Street Co. has a 52-week low of $62.78 and a 52-week high of $94.74. The stock has a 50-day moving average price of $75.56 and a two-hundred day moving average price of $71.01. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.51 and a current ratio of 0.55. The company has a market cap of $22.71 billion, a P/E ratio of 13.27, a PEG ratio of 1.46 and a beta of 1.53.

State Street (NYSE:STTGet Free Report) last posted its earnings results on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, topping the consensus estimate of $1.83 by $0.21. State Street had a return on equity of 11.86% and a net margin of 10.59%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the business earned $2.07 earnings per share. The firm’s revenue was down 3.5% on a year-over-year basis. On average, equities research analysts forecast that State Street Co. will post 7.84 earnings per share for the current year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Friday, December 29th. State Street’s dividend payout ratio (DPR) is currently 50.27%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on STT. Barclays increased their price target on State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. UBS Group increased their price objective on State Street from $70.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Keefe, Bruyette & Woods reduced their price objective on State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a report on Monday, January 22nd. Bank of America reissued an “underperform” rating and set a $81.00 price objective on shares of State Street in a report on Thursday, January 4th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $83.00 price objective on shares of State Street in a report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.83.

Check Out Our Latest Research Report on State Street

About State Street

(Free Report)

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; foreign exchange, and 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.

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

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