State Street Co. (NYSE:STT) Shares Purchased by Quent Capital LLC

Quent Capital LLC increased its position in shares of State Street Co. (NYSE:STT) by 73.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,160 shares of the asset manager’s stock after purchasing an additional 914 shares during the period. Quent Capital LLC’s holdings in State Street were worth $212,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sovran Advisors LLC acquired a new stake in State Street during the fourth quarter worth about $202,000. BostonPremier Wealth LLC acquired a new stake in shares of State Street during the fourth quarter valued at about $283,000. Ferguson Wellman Capital Management Inc. increased its position in shares of State Street by 3.6% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 1,064,840 shares of the asset manager’s stock valued at $104,514,000 after acquiring an additional 36,691 shares during the last quarter. Savant Capital LLC increased its position in shares of State Street by 1.1% during the fourth quarter. Savant Capital LLC now owns 28,172 shares of the asset manager’s stock valued at $2,765,000 after acquiring an additional 310 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its position in shares of State Street by 49.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,704 shares of the asset manager’s stock valued at $462,000 after acquiring an additional 1,561 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on STT. Barclays lifted their price target on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $103.00 price target (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Morgan Stanley dropped their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Finally, StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, State Street presently has an average rating of “Hold” and a consensus price target of $100.73.

Insider Activity

In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Down 0.4 %

Shares of NYSE:STT opened at $98.23 on Thursday. The company has a market capitalization of $28.80 billion, a PE ratio of 11.92, a P/E/G ratio of 1.12 and a beta of 1.43. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The firm has a 50 day simple moving average of $98.55 and a 200-day simple moving average of $92.01.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.04 EPS. On average, equities analysts predict that State Street Co. will post 9.6 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a $0.76 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.09%. State Street’s payout ratio is 36.89%.

State Street 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.