Massmutual Trust Co. FSB ADV Buys 148 Shares of State Street Co. (NYSE:STT)

Massmutual Trust Co. FSB ADV increased its position in State Street Co. (NYSE:STT) by 9.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,739 shares of the asset manager’s stock after buying an additional 148 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in State Street were worth $129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in STT. Norges Bank purchased a new position in shares of State Street during the fourth quarter valued at about $147,421,000. Jacobs Levy Equity Management Inc. raised its holdings in State Street by 541.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock worth $58,117,000 after acquiring an additional 634,422 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of State Street by 430.5% during the first quarter. SG Americas Securities LLC now owns 735,136 shares of the asset manager’s stock valued at $56,841,000 after buying an additional 596,567 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of State Street by 57.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,563,964 shares of the asset manager’s stock worth $121,145,000 after acquiring an additional 573,016 shares during the period. Finally, Lazard Asset Management LLC raised its stake in State Street by 168.7% during the 1st quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock valued at $62,469,000 after buying an additional 507,270 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on STT shares. Morgan Stanley lifted their price target on shares of State Street from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Wednesday, July 17th. Argus boosted 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. Wolfe Research reissued an “underperform” rating and issued a $73.00 target price on shares of State Street in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft increased their price target on State Street from $75.00 to $80.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Two investment 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 MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $88.96.

State Street Stock Up 0.0 %

Shares of STT traded up $0.02 during midday trading on Tuesday, reaching $77.13. The stock had a trading volume of 2,272,997 shares, compared to its average volume of 2,270,290. The company has a market cap of $23.24 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 1.25 and a beta of 1.48. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.54 and a quick ratio of 0.61. The company’s fifty day simple moving average is $76.83 and its two-hundred day simple moving average is $75.22. State Street Co. has a 1-year low of $62.78 and a 1-year high of $86.25.

State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. State Street had a net margin of 8.98% and a return on equity of 11.78%. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the business posted $2.17 earnings per share. State Street’s quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts expect that State Street Co. will post 8.14 earnings per share for the current year.

State Street Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.94%. This is an increase from State Street’s previous quarterly dividend of $0.69. The ex-dividend date is Tuesday, October 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.