Charles Schwab Investment Management Inc. Has $169.38 Million Holdings in State Street Corporation (NYSE:STT)

Charles Schwab Investment Management Inc. lifted its position in shares of State Street Corporation (NYSE:STT - Free Report) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,891,862 shares of the asset manager's stock after purchasing an additional 16,926 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.66% of State Street worth $169,378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STT. Assetmark Inc. raised its holdings in State Street by 61.9% during the 1st quarter. Assetmark Inc. now owns 934 shares of the asset manager's stock worth $84,000 after buying an additional 357 shares during the period. Principal Financial Group Inc. lifted its position in State Street by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 339,406 shares of the asset manager's stock valued at $30,387,000 after acquiring an additional 5,242 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in State Street by 127.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 30,710 shares of the asset manager's stock valued at $2,728,000 after acquiring an additional 17,201 shares in the last quarter. Index Fund Advisors Inc. acquired a new position in State Street in the 1st quarter worth $505,000. Finally, Bank of New York Mellon Corp increased its holdings in State Street by 6.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,186,569 shares of the asset manager's stock worth $195,764,000 after purchasing an additional 123,259 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

STT has been the subject of several recent research reports. Barclays reduced their price objective on State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Keefe, Bruyette & Woods reduced their price target on State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Morgan Stanley lifted their price objective on shares of State Street from $110.00 to $114.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Wells Fargo & Company boosted their price objective on shares of State Street from $113.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, The Goldman Sachs Group lifted their price target on shares of State Street from $98.00 to $111.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $112.00.

Insiders Place Their Bets

In related news, EVP Michael L. Richards sold 990 shares of the business's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $109.29, for a total value of $108,197.10. Following the completion of the sale, the executive vice president directly owned 41,332 shares in the company, valued at $4,517,174.28. The trade was a 2.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.29% of the company's stock.

State Street Stock Performance

STT traded up $1.49 during trading hours on Tuesday, reaching $111.32. The company's stock had a trading volume of 2,380,011 shares, compared to its average volume of 2,190,725. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.57 and a current ratio of 0.57. The company's 50-day moving average is $106.03 and its 200-day moving average is $96.79. State Street Corporation has a 52 week low of $72.81 and a 52 week high of $114.28. The firm has a market cap of $31.58 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.21 and a beta of 1.48.

State Street (NYSE:STT - Get Free Report) last posted its earnings results on Tuesday, July 15th. The asset manager reported $2.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.17. The company had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.33 billion. State Street had a net margin of 12.59% and a return on equity of 12.96%. State Street's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.15 EPS. On average, equities analysts forecast that State Street Corporation will post 9.68 EPS for the current year.

State Street Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Wednesday, October 1st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, October 1st. This is an increase from State Street's previous quarterly dividend of $0.76. State Street's payout ratio is 34.04%.

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.