Mutual of America Capital Management LLC Buys 566 Shares of State Street Co. (NYSE:STT)

Mutual of America Capital Management LLC grew its stake in shares of State Street Co. (NYSE:STTGet Rating) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,843 shares of the asset manager’s stock after buying an additional 566 shares during the period. Mutual of America Capital Management LLC’s holdings in State Street were worth $4,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd bought a new stake in shares of State Street during the fourth quarter valued at approximately $31,000. Confluence Wealth Services Inc. bought a new stake in shares of State Street during the fourth quarter valued at approximately $35,000. Citizens National Bank Trust Department bought a new stake in shares of State Street during the fourth quarter valued at approximately $37,000. City State Bank bought a new stake in shares of State Street during the fourth quarter valued at approximately $40,000. Finally, KRS Capital Management LLC bought a new stake in shares of State Street during the fourth quarter valued at approximately $46,000. Institutional investors own 91.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on STT shares. Morgan Stanley reduced their price target on shares of State Street from $106.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 6th. Credit Suisse Group reduced their price target on shares of State Street from $106.00 to $90.00 and set a “neutral” rating on the stock in a research report on Monday, April 18th. Wells Fargo & Company reduced their price target on shares of State Street from $95.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Friday, July 1st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of State Street from $67.00 to $65.00 in a research report on Wednesday, July 13th. Finally, Wolfe Research cut shares of State Street from an “outperform” rating to a “peer perform” rating and set a $101.00 price target on the stock. in a research report on Thursday, March 31st. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, State Street has a consensus rating of “Hold” and a consensus target price of $84.12.

State Street Stock Up 0.4 %

Shares of STT opened at $68.40 on Tuesday. The firm has a market capitalization of $25.11 billion, a P/E ratio of 9.47, a P/E/G ratio of 1.17 and a beta of 1.60. State Street Co. has a 12-month low of $58.79 and a 12-month high of $104.87. The company has a current ratio of 0.53, a quick ratio of 0.52 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average price of $66.18 and a 200-day moving average price of $79.07.

State Street Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Monday, October 3rd will be paid a dividend of $0.63 per share. This is a positive change from State Street’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Friday, September 30th. State Street’s payout ratio is currently 31.58%.

State Street Profile

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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.

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

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