Seven Eight Capital LP Has $1.42 Million Holdings in State Street Co. (NYSE:STT)

Seven Eight Capital LP lessened its stake in State Street Co. (NYSE:STT) by 79.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,287 shares of the asset manager’s stock after selling 69,646 shares during the quarter. Seven Eight Capital LP’s holdings in State Street were worth $1,417,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of STT. Oppenheimer & Co. Inc. raised its stake in State Street by 9.5% in the third quarter. Oppenheimer & Co. Inc. now owns 6,284 shares of the asset manager’s stock valued at $421,000 after purchasing an additional 545 shares in the last quarter. Spire Wealth Management grew its position in State Street by 244.6% in the third quarter. Spire Wealth Management now owns 1,706 shares of the asset manager’s stock valued at $114,000 after acquiring an additional 1,211 shares during the last quarter. Janney Montgomery Scott LLC grew its position in State Street by 1.3% in the third quarter. Janney Montgomery Scott LLC now owns 57,570 shares of the asset manager’s stock valued at $3,855,000 after acquiring an additional 719 shares during the last quarter. Burney Co. grew its position in State Street by 2.9% in the third quarter. Burney Co. now owns 10,637 shares of the asset manager’s stock valued at $712,000 after acquiring an additional 299 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in State Street by 1.6% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 29,579 shares of the asset manager’s stock valued at $1,981,000 after acquiring an additional 456 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Trading Up 0.3 %

STT traded up $0.26 during trading on Friday, hitting $74.76. The company’s stock had a trading volume of 2,213,609 shares, compared to its average volume of 1,862,589. State Street Co. has a twelve month low of $62.78 and a twelve month high of $79.90. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The stock’s fifty day moving average price is $75.13 and its 200-day moving average price is $74.65. The firm has a market capitalization of $22.52 billion, a P/E ratio of 14.00, a PEG ratio of 1.28 and a beta of 1.47.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.21. State Street had a return on equity of 12.03% and a net margin of 9.62%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.06 billion. Analysts anticipate that State Street Co. will post 7.95 EPS for the current year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Monday, July 1st will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Monday, July 1st. State Street’s dividend payout ratio (DPR) is presently 51.69%.

Wall Street Analyst Weigh In

STT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their target price on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. UBS Group boosted their price target on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Morgan Stanley boosted their price target on State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Evercore ISI boosted their price target on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Argus lifted their price objective on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $84.04.

State Street Company 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.