Mutual of America Capital Management LLC Has $3.06 Million Stake in State Street Co. (NYSE:STT)

Mutual of America Capital Management LLC trimmed its holdings in State Street Co. (NYSE:STT) by 4.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,587 shares of the asset manager’s stock after selling 1,785 shares during the period. Mutual of America Capital Management LLC’s holdings in State Street were worth $3,061,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in State Street by 4.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 941,404 shares of the asset manager’s stock worth $72,789,000 after purchasing an additional 40,835 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in State Street during the 4th quarter worth approximately $45,687,000. Ferguson Wellman Capital Management Inc. lifted its holdings in State Street by 3.7% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 484,411 shares of the asset manager’s stock worth $37,522,000 after purchasing an additional 17,270 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in State Street by 298.6% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 37,888 shares of the asset manager’s stock worth $2,935,000 after purchasing an additional 28,382 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in State Street by 4.9% during the 4th quarter. Federated Hermes Inc. now owns 270,342 shares of the asset manager’s stock worth $20,941,000 after purchasing an additional 12,594 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STT has been the subject of several research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $85.00 price target on shares of State Street in a report on Monday, July 1st. Wolfe Research reaffirmed an “underperform” rating and issued a $73.00 price objective on shares of State Street in a report on Monday. JPMorgan Chase & Co. lifted their price objective on State Street from $79.50 to $80.50 in a report on Friday, April 12th. Evercore ISI reaffirmed an “outperform” rating and issued a $88.00 price objective on shares of State Street in a report on Wednesday, July 3rd. Finally, Argus lifted their price objective on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a report on Monday, April 15th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, State Street currently has an average rating of “Hold” and a consensus price target of $83.11.

State Street Trading Up 1.4 %

Shares of STT stock opened at $76.51 on Friday. The firm has a market capitalization of $23.05 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.29 and a beta of 1.48. 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 simple moving average is $74.45 and its 200 day simple moving average is $74.51.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.21. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.06 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. As a group, sell-side analysts predict that State Street Co. will post 7.95 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 11th. Investors of record on Monday, July 1st were given a dividend of $0.69 per share. The ex-dividend date was Monday, July 1st. This represents a $2.76 dividend on an annualized basis and a yield of 3.61%. State Street’s dividend payout ratio is currently 51.69%.

About State Street

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.