First Financial Corp IN Increases Position in State Street Co. (NYSE:STT)

First Financial Corp IN increased its stake in shares of State Street Co. (NYSE:STTGet Rating) by 81.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 438 shares of the asset manager’s stock after buying an additional 197 shares during the quarter. First Financial Corp IN’s holdings in State Street were worth $27,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. IFM Investors Pty Ltd grew its holdings in shares of State Street by 4.0% during the second quarter. IFM Investors Pty Ltd now owns 63,243 shares of the asset manager’s stock valued at $3,899,000 after buying an additional 2,459 shares during the last quarter. Krilogy Financial LLC purchased a new stake in shares of State Street during the second quarter valued at $696,000. Orion Portfolio Solutions LLC grew its holdings in shares of State Street by 49.2% during the second quarter. Orion Portfolio Solutions LLC now owns 4,448 shares of the asset manager’s stock valued at $274,000 after buying an additional 1,467 shares during the last quarter. Raymond James Trust N.A. grew its holdings in shares of State Street by 10.3% during the second quarter. Raymond James Trust N.A. now owns 4,969 shares of the asset manager’s stock valued at $306,000 after buying an additional 464 shares during the last quarter. Finally, IMS Capital Management grew its holdings in shares of State Street by 16.8% during the second quarter. IMS Capital Management now owns 4,530 shares of the asset manager’s stock valued at $279,000 after buying an additional 650 shares during the last quarter. 89.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on STT shares. Morgan Stanley decreased their target price on shares of State Street from $106.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. UBS Group decreased their target price on shares of State Street from $101.00 to $91.00 in a research report on Monday, July 11th. Citigroup boosted their target price on shares of State Street to $74.00 in a research report on Friday, July 22nd. JPMorgan Chase & Co. decreased their target price on shares of State Street from $82.00 to $74.50 in a research report on Monday, July 11th. Finally, Royal Bank of Canada decreased their target price on shares of State Street from $90.00 to $80.00 in a research report on Tuesday, June 14th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $84.81.

State Street Price Performance

Shares of State Street stock traded down $2.70 during trading hours on Friday, reaching $63.38. The stock had a trading volume of 106,492 shares, compared to its average volume of 1,733,425. The firm has a market capitalization of $23.30 billion, a PE ratio of 9.15, a PEG ratio of 1.17 and a beta of 1.60. The stock’s 50 day moving average is $70.15 and its 200 day moving average is $72.11. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.57. State Street Co. has a twelve month low of $58.79 and a twelve month high of $104.87.

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. The ex-dividend date of this dividend is Friday, September 30th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.98%. This is a boost from State Street’s previous quarterly dividend of $0.57. State Street’s payout ratio is currently 31.58%.

About State Street

(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.