InvesTrust Makes New $742,000 Investment in State Street Co. (NYSE:STT)

InvesTrust purchased a new stake in shares of State Street Co. (NYSE:STT) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,550 shares of the asset manager’s stock, valued at approximately $742,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new stake in State Street in the second quarter valued at approximately $27,000. Coastline Trust Co bought a new stake in shares of State Street during the 3rd quarter valued at about $44,000. Capital Performance Advisors LLP acquired a new stake in State Street during the third quarter worth approximately $54,000. Versant Capital Management Inc increased its holdings in State Street by 37.0% in the fourth quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock worth $72,000 after purchasing an additional 197 shares in the last quarter. Finally, Tobam bought a new position in shares of State Street during the 3rd quarter worth approximately $77,000. 87.44% of the stock is owned by institutional investors.

Insider Transactions at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John Plansky sold 13,859 shares of State Street stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the completion of the transaction, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,460 shares of company stock valued at $2,499,860 in the last quarter. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, November 11th. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, December 27th. Truist Financial assumed coverage on State Street in a research report on Tuesday. They issued a “hold” rating and a $106.00 target price for the company. Finally, Barclays increased their price target on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $100.33.

State Street Stock Up 0.0 %

Shares of STT traded up $0.01 during trading hours on Wednesday, reaching $97.73. 622,922 shares of the stock traded hands, compared to its average volume of 1,308,698. State Street Co. has a 52 week low of $70.20 and a 52 week high of $101.91. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock has a fifty day simple moving average of $97.19 and a 200 day simple moving average of $88.40. The company has a market cap of $28.65 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.24 and a beta of 1.43.

State Street (NYSE:STT) last posted its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the prior year, the company earned $1.93 EPS. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. On average, equities analysts forecast that State Street Co. will post 8.42 EPS for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be paid a $0.76 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.11%. State Street’s dividend payout ratio is presently 48.03%.

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.