Grantham Mayo Van Otterloo & Co. LLC Has $25.53 Million Position in State Street Corporation $STT

Grantham Mayo Van Otterloo & Co. LLC cut its stake in shares of State Street Corporation (NYSE:STT) by 18.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 220,098 shares of the asset manager’s stock after selling 48,577 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in State Street were worth $25,534,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Regents of The University of California bought a new stake in State Street in the third quarter valued at $324,576,000. Norges Bank bought a new position in shares of State Street during the 2nd quarter worth about $256,367,000. First Trust Advisors LP grew its stake in shares of State Street by 36.8% in the 3rd quarter. First Trust Advisors LP now owns 2,747,646 shares of the asset manager’s stock valued at $318,754,000 after buying an additional 738,456 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of State Street in the 3rd quarter valued at about $62,092,000. Finally, Invesco Ltd. increased its position in State Street by 4.7% in the 2nd quarter. Invesco Ltd. now owns 8,566,237 shares of the asset manager’s stock valued at $910,934,000 after buying an additional 381,547 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on STT. Citigroup initiated coverage on State Street in a research note on Monday, February 23rd. They set a “buy” rating and a $150.00 price target on the stock. Morgan Stanley reduced their price objective on State Street from $168.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of State Street in a report on Wednesday, January 21st. Wall Street Zen raised State Street from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Loop Capital set a $144.00 target price on State Street in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $135.83.

State Street Trading Down 3.4%

STT opened at $120.85 on Monday. State Street Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $137.05. The firm has a market capitalization of $33.68 billion, a PE ratio of 12.84, a P/E/G ratio of 1.06 and a beta of 1.43. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61. The company’s 50-day moving average is $129.61 and its 200 day moving average is $121.80.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.15. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.57 billion. State Street had a return on equity of 13.46% and a net margin of 13.02%.The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.60 EPS. As a group, research analysts predict that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Wednesday, April 1st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, April 1st. State Street’s dividend payout ratio (DPR) is currently 35.71%.

About State Street

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.