Creative Planning raised its position in State Street Co. (NYSE:STT – Get Rating) by 30.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,927 shares of the asset manager’s stock after purchasing an additional 2,567 shares during the quarter. Creative Planning’s holdings in State Street were worth $664,000 at the end of the most recent reporting period.
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Other hedge funds and other institutional investors have also recently modified their holdings of the company. Forsta AP Fonden raised its stake in shares of State Street by 6.4% in the 2nd quarter. Forsta AP Fonden now owns 84,200 shares of the asset manager’s stock valued at $5,191,000 after purchasing an additional 5,100 shares during the period. Xponance Inc. raised its stake in shares of State Street by 30.3% in the 2nd quarter. Xponance Inc. now owns 33,755 shares of the asset manager’s stock valued at $2,081,000 after purchasing an additional 7,859 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of State Street by 25.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 15,760 shares of the asset manager’s stock valued at $972,000 after purchasing an additional 3,180 shares during the period. Crumly & Associates Inc. raised its stake in shares of State Street by 14.9% in the 3rd quarter. Crumly & Associates Inc. now owns 4,499 shares of the asset manager’s stock valued at $274,000 after purchasing an additional 583 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of State Street by 83.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,214,809 shares of the asset manager’s stock valued at $73,872,000 after purchasing an additional 553,285 shares during the period. Institutional investors and hedge funds own 88.41% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on State Street in a report on Wednesday, January 4th. They issued a “neutral” rating for the company. Bank of America assumed coverage on State Street in a report on Thursday, January 12th. They issued a “neutral” rating and a $86.00 price objective for the company. Barclays raised their price objective on State Street from $95.00 to $116.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Wells Fargo & Company raised their price objective on State Street to $86.00 in a report on Monday, December 12th. Finally, Credit Suisse Group raised their price objective on State Street from $76.00 to $84.00 and gave the company a “neutral” rating in a report on Monday, January 23rd. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $87.68.
State Street Trading Up 1.3 %
State Street stock opened at $91.33 on Wednesday. State Street Co. has a 52 week low of $58.62 and a 52 week high of $103.76. The stock has a market capitalization of $33.51 billion, a P/E ratio of 12.70, a PEG ratio of 1.20 and a beta of 1.57. The stock has a 50-day simple moving average of $80.37 and a 200 day simple moving average of $73.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.54 and a current ratio of 0.56.
State Street Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Tuesday, January 3rd were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Friday, December 30th. State Street’s dividend payout ratio is presently 35.05%.
State Street Company Profile
State Street Corp. operates as a financial holding company. It conducts business primarily through State Street Bank. The firm operates through following business lines: Investment Servicing and Investment Management. The Investment Servicing business offers custody, product and participant-level accounting, daily pricing and administration, master trust and master custody, record-keeping, cash management, foreign exchange, brokerage and other trading services, securities finance, deposit and short-term investment facilities, loans and lease financing, investment manager and alternative investment manager operations outsourcing, and performance, risk and compliance analytics.
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