Trust Investment Advisors Makes New Investment in State Street Co. (NYSE:STT)

Trust Investment Advisors purchased a new position in shares of State Street Co. (NYSE:STT) during the fourth quarter, Holdings Channel.com reports. The firm purchased 2,383 shares of the asset manager’s stock, valued at approximately $234,000.

Several other large investors also recently modified their holdings of STT. Albion Financial Group UT bought a new position in State Street during the fourth quarter worth $25,000. Y.D. More Investments Ltd boosted its position in shares of State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after purchasing an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of State Street in the 4th quarter valued at about $42,000. Friedenthal Financial bought a new stake in State Street in the 4th quarter valued at about $49,000. Finally, Hager Investment Management Services LLC acquired a new position in State Street during the 4th quarter worth approximately $56,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on STT. Truist Financial reduced their price objective on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 price target (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Morgan Stanley dropped their price objective on shares of State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $101.87.

State Street Stock Performance

Shares of STT opened at $92.47 on Wednesday. The stock has a 50 day moving average of $95.84 and a 200 day moving average of $94.40. 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 12 month low of $70.20 and a 12 month high of $103.00. The company has a market capitalization of $26.67 billion, a price-to-earnings ratio of 11.22, a PEG 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion during 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 business’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $2.04 EPS. As a group, sell-side analysts forecast that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is 36.89%.

Insider Activity

In other news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction dated Tuesday, February 18th. The stock was 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. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

About State Street

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.