Lombard Odier Asset Management Europe Ltd Sells 179 Shares of State Street Co. (NYSE:STT)

Lombard Odier Asset Management Europe Ltd trimmed its stake in State Street Co. (NYSE:STT) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,291 shares of the asset manager’s stock after selling 179 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in State Street were worth $2,686,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of State Street by 4.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 941,404 shares of the asset manager’s stock valued at $72,789,000 after buying an additional 40,835 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in State Street by 3.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,891 shares of the asset manager’s stock valued at $15,376,000 after acquiring an additional 6,363 shares during the last quarter. M&G Plc acquired a new stake in State Street during the 1st quarter valued at approximately $7,626,000. Public Employees Retirement Association of Colorado increased its position 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 valued at $2,935,000 after purchasing an additional 28,382 shares during the period. Finally, Cetera Investment Advisers raised its holdings in State Street by 127.8% during the 1st quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock worth $3,433,000 after purchasing an additional 24,906 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Citigroup upped their price objective on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Barclays upped their price target on shares of State Street from $102.00 to $103.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Evercore ISI lifted their price objective on State Street from $88.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Royal Bank of Canada upped their target price on State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods lowered their target price on State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $89.46.

State Street Trading Up 0.7 %

NYSE STT opened at $89.13 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.89. State Street Co. has a 52 week low of $62.78 and a 52 week high of $89.49. The business has a 50 day moving average price of $83.39 and a 200-day moving average price of $77.67. The company has a market cap of $26.85 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 1.38 and a beta of 1.48.

State Street (NYSE:STT) last released its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.12. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. State Street had a net margin of 8.98% and a return on equity of 11.78%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.17 earnings per share. As a group, equities analysts expect that State Street Co. will post 8.15 earnings per share for the current fiscal year.

State Street Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a $0.76 dividend. This is a boost from State Street’s previous quarterly dividend of $0.69. The ex-dividend date is Tuesday, October 1st. This represents a $3.04 annualized dividend and a yield of 3.41%. State Street’s dividend payout ratio (DPR) is presently 56.93%.

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.