Brinker Capital Investments LLC Has $959,000 Stake in State Street Co. (NYSE:STT)

Brinker Capital Investments LLC increased its position in shares of State Street Co. (NYSE:STTGet Rating) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,769 shares of the asset manager’s stock after buying an additional 386 shares during the period. Brinker Capital Investments LLC’s holdings in State Street were worth $959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in State Street by 0.4% during the first quarter. Vanguard Group Inc. now owns 34,410,077 shares of the asset manager’s stock worth $2,997,806,000 after purchasing an additional 146,048 shares during the period. Cooke & Bieler LP boosted its position in State Street by 37.6% during the second quarter. Cooke & Bieler LP now owns 4,095,509 shares of the asset manager’s stock worth $252,489,000 after purchasing an additional 1,118,713 shares during the period. Nordea Investment Management AB boosted its position in State Street by 5.5% during the second quarter. Nordea Investment Management AB now owns 3,572,222 shares of the asset manager’s stock worth $216,905,000 after purchasing an additional 185,913 shares during the period. Coho Partners Ltd. boosted its position in State Street by 3.9% during the third quarter. Coho Partners Ltd. now owns 2,584,916 shares of the asset manager’s stock worth $157,189,000 after purchasing an additional 96,321 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in State Street by 2.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,941,190 shares of the asset manager’s stock worth $169,117,000 after purchasing an additional 44,428 shares during the period. 88.41% of the stock is owned by institutional investors.

State Street Trading Up 4.7 %

STT opened at $84.28 on Monday. State Street Co. has a twelve month low of $58.62 and a twelve month high of $103.76. The company has a 50-day simple moving average of $78.70 and a 200 day simple moving average of $72.29. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $30.93 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 1.42 and a beta of 1.57.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Tuesday, January 3rd were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Friday, December 30th. State Street’s payout ratio is 35.05%.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price objective on shares of State Street to $86.00 in a research report on Monday, December 12th. The Goldman Sachs Group started coverage on shares of State Street in a research report on Wednesday, January 4th. They issued a “neutral” rating for the company. Barclays boosted their target price on shares of State Street from $95.00 to $116.00 and gave the company an “overweight” rating in a research report on Tuesday, January 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of State Street from $82.00 to $85.00 in a research report on Wednesday, January 11th. Finally, Morgan Stanley cut shares of State Street from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, December 6th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $87.61.

State Street Company Profile

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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.

Further Reading

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

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