Maverick Capital Ltd. Has $567,000 Stake in State Street Co. (NYSE:STT)

Maverick Capital Ltd. boosted its holdings in State Street Co. (NYSE:STT) by 35.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,660 shares of the asset manager’s stock after buying an additional 2,014 shares during the period. Maverick Capital Ltd.’s holdings in State Street were worth $567,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STT. LSV Asset Management lifted its stake in shares of State Street by 30.6% in the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after purchasing an additional 1,238,251 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in State Street by 541.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock worth $58,117,000 after buying an additional 634,422 shares during the last quarter. SG Americas Securities LLC grew its position in shares of State Street by 430.5% during the 1st quarter. SG Americas Securities LLC now owns 735,136 shares of the asset manager’s stock worth $56,841,000 after buying an additional 596,567 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of State Street by 57.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,563,964 shares of the asset manager’s stock valued at $121,145,000 after acquiring an additional 573,016 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of State Street by 168.7% in the 1st quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock valued at $62,469,000 after acquiring an additional 507,270 shares during the period. 87.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

STT has been the subject of several recent analyst reports. The Goldman Sachs Group upped their target price on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada raised their price objective on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 17th. Bank of America boosted their target price on State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on State Street from $79.00 to $87.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Finally, Keefe, Bruyette & Woods lowered their target price on State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a research note on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $89.61.

State Street Stock Up 0.1 %

Shares of STT stock opened at $88.20 on Friday. The firm’s fifty day moving average price is $83.69 and its two-hundred day moving average price is $78.07. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.89. State Street Co. has a 1 year low of $62.78 and a 1 year high of $89.49. The firm has a market capitalization of $26.57 billion, a P/E ratio of 16.52, a PEG ratio of 1.44 and a beta of 1.48.

State Street (NYSE:STT) last released its earnings results on Tuesday, July 16th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.12. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. State Street had a return on equity of 11.78% and a net margin of 8.98%. State Street’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.17 earnings per share. On average, equities analysts predict that State Street Co. will post 8.15 EPS for the current fiscal year.

State Street Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be paid a $0.76 dividend. The ex-dividend date is Tuesday, October 1st. This is a boost from State Street’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a dividend yield of 3.45%. State Street’s dividend payout ratio (DPR) is currently 56.93%.

State Street Company Profile

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; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.