Clarius Group LLC Buys New Position in State Street Co. (NYSE:STT)

Clarius Group LLC bought a new stake in State Street Co. (NYSE:STT) during the third quarter, Holdings Channel.com reports. The fund bought 2,468 shares of the asset manager’s stock, valued at approximately $218,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Tobam purchased a new stake in State Street in the third quarter valued at approximately $77,000. Wedmont Private Capital raised its stake in State Street by 11.1% in the third quarter. Wedmont Private Capital now owns 5,934 shares of the asset manager’s stock valued at $519,000 after purchasing an additional 595 shares in the last quarter. CWM LLC raised its stake in State Street by 12.3% in the third quarter. CWM LLC now owns 11,371 shares of the asset manager’s stock valued at $1,006,000 after purchasing an additional 1,248 shares in the last quarter. Brookstone Capital Management raised its stake in State Street by 5.1% in the third quarter. Brookstone Capital Management now owns 6,484 shares of the asset manager’s stock valued at $574,000 after purchasing an additional 317 shares in the last quarter. Finally, Atomi Financial Group Inc. purchased a new stake in State Street in the third quarter valued at approximately $271,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of State Street from $88.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Barclays increased 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. Keefe, Bruyette & Woods reduced their price target on shares of State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. The Goldman Sachs Group increased their price target on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company increased their price target on shares of State Street from $91.00 to $98.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, State Street has a consensus rating of “Hold” and a consensus target price of $90.11.

State Street Stock Up 0.5 %

Shares of State Street stock opened at $89.83 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.54 and a current ratio of 0.54. State Street Co. has a 52-week low of $62.78 and a 52-week high of $90.80. The stock has a market capitalization of $26.83 billion, a price-to-earnings ratio of 16.89, a P/E/G ratio of 1.30 and a beta of 1.48. The company’s 50 day moving average price is $84.43 and its 200-day moving average price is $79.04.

State Street (NYSE:STT) last issued its earnings results on Tuesday, July 16th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.12. State Street had a net margin of 8.98% and a return on equity of 11.78%. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the business earned $2.17 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. Equities research analysts forecast that State Street Co. will post 8.14 EPS for the current year.

State Street Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were paid a $0.76 dividend. This is a positive change from State Street’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.38%. State Street’s dividend payout ratio (DPR) is presently 57.14%.

State Street 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.