Northwest Investment Counselors LLC Buys 144 Shares of State Street Co. (NYSE:STT)

Northwest Investment Counselors LLC grew its stake in shares of State Street Co. (NYSE:STT) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,178 shares of the asset manager’s stock after buying an additional 144 shares during the period. Northwest Investment Counselors LLC’s holdings in State Street were worth $2,135,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Assetmark Inc. raised its holdings in shares of State Street by 2.9% during the fourth quarter. Assetmark Inc. now owns 4,075 shares of the asset manager’s stock valued at $316,000 after purchasing an additional 116 shares during the last quarter. McAdam LLC raised its stake in State Street by 2.2% during the 1st quarter. McAdam LLC now owns 6,404 shares of the asset manager’s stock valued at $485,000 after buying an additional 139 shares during the last quarter. First Manhattan Co. raised its stake in State Street by 7.5% during the 4th quarter. First Manhattan Co. now owns 2,119 shares of the asset manager’s stock valued at $164,000 after buying an additional 148 shares during the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of State Street by 1.8% during the 4th quarter. Apollon Wealth Management LLC now owns 8,337 shares of the asset manager’s stock valued at $647,000 after buying an additional 149 shares during the period. Finally, HM Payson & Co. grew its holdings in shares of State Street by 0.6% in the first quarter. HM Payson & Co. now owns 26,130 shares of the asset manager’s stock worth $1,978,000 after acquiring an additional 151 shares during the period. 89.62% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at State Street

In other State Street news, CFO Eric W. Aboaf sold 11,886 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $67.13, for a total transaction of $797,907.18. Following the completion of the transaction, the chief financial officer now owns 145,974 shares in the company, valued at approximately $9,799,234.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company’s stock.

State Street Price Performance

STT traded down $0.54 on Friday, hitting $71.85. 6,781,051 shares of the company’s stock traded hands, compared to its average volume of 1,792,266. The company’s 50 day simple moving average is $70.69 and its 200-day simple moving average is $72.63. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.77. State Street Co. has a one year low of $58.62 and a one year high of $94.74. The firm has a market cap of $22.89 billion, a price-to-earnings ratio of 9.71, a P/E/G ratio of 2.35 and a beta of 1.58.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, July 14th. The asset manager reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.09. State Street had a net margin of 16.99% and a return on equity of 12.20%. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the business posted $1.94 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts anticipate that State Street Co. will post 7.27 EPS for the current year.

State Street Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Monday, October 2nd will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Friday, September 29th. This is an increase from State Street’s previous quarterly dividend of $0.63. State Street’s dividend payout ratio is 34.05%.

Analysts Set New Price Targets

A number of research analysts have weighed in on STT shares. Bank of America lowered their target price on State Street from $80.00 to $72.00 in a report on Sunday, July 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of State Street from $72.00 to $64.00 in a report on Monday, July 17th. Morgan Stanley decreased their price target on shares of State Street from $91.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 18th. StockNews.com began coverage on shares of State Street in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $75.00 target price on shares of State Street in a report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $75.75.

About State Street

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; foreign exchange, and 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.