Trilogy Capital Inc. Acquires New Position in State Street Co. (NYSE:STT)

Trilogy Capital Inc. acquired a new stake in State Street Co. (NYSE:STT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 35,588 shares of the asset manager’s stock, valued at approximately $2,752,000.

A number of other institutional investors have also recently bought and sold shares of STT. LSV Asset Management grew its stake in shares of State Street by 0.7% during the fourth quarter. LSV Asset Management now owns 3,658,731 shares of the asset manager’s stock worth $283,405,000 after purchasing an additional 23,756 shares during the period. Metropolis Capital Ltd boosted its holdings in State Street by 5.3% during the first quarter. Metropolis Capital Ltd now owns 3,645,635 shares of the asset manager’s stock worth $281,880,000 after buying an additional 183,591 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of 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 buying an additional 79,746 shares during the period. Putnam Investments LLC increased its stake in shares of State Street by 5.8% in the 4th quarter. Putnam Investments LLC now owns 2,343,254 shares of the asset manager’s stock valued at $181,508,000 after acquiring an additional 129,493 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of State Street by 1.1% in the 3rd quarter. Deutsche Bank AG now owns 2,198,676 shares of the asset manager’s stock valued at $147,223,000 after acquiring an additional 23,506 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th. Evercore ISI upped their price objective on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Argus lifted their target price on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price target on shares of State Street in a research report on Wednesday, June 12th. Finally, Keefe, Bruyette & Woods decreased their price objective on State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $83.88.

State Street Stock Up 1.3 %

State Street stock opened at $74.00 on Monday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.90. State Street Co. has a 1-year low of $62.78 and a 1-year high of $79.90. The company has a fifty day simple moving average of $74.31 and a 200 day simple moving average of $74.66. The company has a market cap of $22.29 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 1.29 and a beta of 1.49.

State Street (NYSE:STT) last released its earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.21. State Street had a return on equity of 12.03% and a net margin of 9.62%. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.06 billion. Research analysts anticipate that State Street Co. will post 7.94 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Monday, July 1st will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Monday, July 1st. State Street’s payout ratio is presently 51.69%.

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.