Jones Financial Companies Lllp Raises Position in State Street Co. (NYSE:STT)

Jones Financial Companies Lllp increased its holdings in State Street Co. (NYSE:STT) by 42.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,261 shares of the asset manager’s stock after purchasing an additional 38,396 shares during the period. Jones Financial Companies Lllp’s holdings in State Street were worth $12,589,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in State Street in the 4th quarter valued at about $42,000. Smartleaf Asset Management LLC grew its holdings in State Street by 65.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,131 shares of the asset manager’s stock valued at $209,000 after purchasing an additional 841 shares during the period. Jacobi Capital Management LLC increased its position in State Street by 1.0% during the fourth quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock worth $1,201,000 after purchasing an additional 121 shares during the last quarter. Metis Global Partners LLC increased its position in State Street by 4.4% during the fourth quarter. Metis Global Partners LLC now owns 10,000 shares of the asset manager’s stock worth $982,000 after purchasing an additional 420 shares during the last quarter. Finally, SVB Wealth LLC purchased a new position in State Street during the fourth quarter worth approximately $2,307,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $103.00 price target (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. StockNews.com upgraded State Street from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Wells Fargo & Company boosted their target price on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Finally, Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $100.73.

State Street Price Performance

STT opened at $96.86 on Tuesday. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The firm has a market cap of $27.94 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.11 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. The company has a fifty day simple moving average of $98.56 and a 200 day simple moving average of $93.83.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period last year, the firm earned $2.04 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. Equities research analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Tuesday, April 1st. 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.