Raymond James Financial Services Advisors Inc. Increases Stock Position in State Street Co. (NYSE:STT)

Raymond James Financial Services Advisors Inc. grew its position in State Street Co. (NYSE:STTGet Rating) by 75.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 101,527 shares of the asset manager’s stock after purchasing an additional 43,582 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in State Street were worth $6,174,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ronald Blue Trust Inc. bought a new position in State Street during the second quarter valued at about $25,000. First Financial Corp IN boosted its position in State Street by 81.7% during the second quarter. First Financial Corp IN now owns 438 shares of the asset manager’s stock worth $27,000 after purchasing an additional 197 shares during the period. Venture Visionary Partners LLC bought a new position in State Street during the second quarter worth about $27,000. Rise Advisors LLC bought a new position in State Street during the third quarter worth about $36,000. Finally, CNB Bank bought a new position in State Street during the second quarter worth about $37,000. Hedge funds and other institutional investors own 88.41% of the company’s stock.

State Street Trading Up 0.7 %

STT stock opened at $81.46 on Wednesday. The company has a market capitalization of $29.89 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 1.25 and a beta of 1.57. State Street Co. has a one year low of $58.62 and a one year high of $104.87. The company’s 50 day moving average price is $77.72 and its two-hundred day moving average price is $71.21. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.54 and a current ratio of 0.54.

State Street (NYSE:STTGet Rating) last posted its quarterly earnings results on Tuesday, October 18th. The asset manager reported $1.82 EPS for the quarter, topping the consensus estimate of $1.79 by $0.03. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.97 billion. State Street had a net margin of 22.48% and a return on equity of 11.72%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $2.00 earnings per share. As a group, analysts predict that State Street Co. will post 7.24 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Tuesday, January 3rd will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Friday, December 30th. State Street’s dividend payout ratio is 35.69%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup increased their target price on shares of State Street from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, December 1st. StockNews.com assumed coverage on shares of State Street in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of State Street from $66.00 to $77.00 and gave the stock a “hold” rating in a report on Tuesday, November 15th. Wells Fargo & Company increased their price target on shares of State Street to $86.00 in a report on Monday, December 12th. Finally, Barclays increased their price target on shares of State Street from $95.00 to $116.00 and gave the stock an “overweight” rating in a report on Tuesday, January 3rd. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $87.12.

State Street Company Profile

(Get Rating)

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; product accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

Featured Stories

Want to see what other hedge funds are holding STT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for State Street Co. (NYSE:STTGet Rating).

Institutional Ownership by Quarter for State Street (NYSE:STT)

Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.