Crowley Wealth Management Inc. Makes New $69,000 Investment in State Street Co. (NYSE:STT)

Crowley Wealth Management Inc. bought a new position in shares of State Street Co. (NYSE:STT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 704 shares of the asset manager’s stock, valued at approximately $69,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Empowered Funds LLC lifted its position in shares of State Street by 11.4% during the 3rd quarter. Empowered Funds LLC now owns 4,929 shares of the asset manager’s stock worth $432,000 after buying an additional 504 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of State Street by 9.4% in the third quarter. Advisors Asset Management Inc. now owns 24,696 shares of the asset manager’s stock worth $2,185,000 after acquiring an additional 2,124 shares during the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of State Street by 3.3% in the third quarter. Citizens Financial Group Inc. RI now owns 5,790 shares of the asset manager’s stock worth $512,000 after acquiring an additional 184 shares during the last quarter. Raymond James Trust N.A. bought a new position in State Street in the 3rd quarter valued at approximately $226,000. Finally, Cerity Partners LLC lifted its stake in State Street by 35.1% in the 3rd quarter. Cerity Partners LLC now owns 60,936 shares of the asset manager’s stock valued at $5,391,000 after purchasing an additional 15,818 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on STT. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a research note on Friday, December 20th. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Morgan Stanley dropped their target price on State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, Wells Fargo & Company raised their price objective on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $101.20.

Insider Activity

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

State Street Stock Performance

Shares of STT opened at $90.63 on Monday. The firm’s fifty day simple moving average is $95.93 and its two-hundred day simple moving average is $94.28. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. 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 stock has a market capitalization of $26.14 billion, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.04 EPS. As a group, analysts predict that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.35%. State Street’s dividend payout ratio is currently 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.