EntryPoint Capital LLC Takes Position in State Street Co. (NYSE:STT)

EntryPoint Capital LLC purchased a new position in shares of State Street Co. (NYSE:STT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,251 shares of the asset manager’s stock, valued at approximately $319,000.

Several other institutional investors have also recently added to or reduced their stakes in STT. Adero Partners LLC increased its holdings in shares of State Street by 3.6% in the fourth quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 100 shares during the period. Peapack Gladstone Financial Corp grew its position in State Street by 2.0% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock valued at $467,000 after buying an additional 103 shares during the last quarter. Jacobi Capital Management LLC raised its position in State Street by 1.0% during the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock worth $1,201,000 after buying an additional 121 shares during the last quarter. Moors & Cabot Inc. lifted its stake in shares of State Street by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager’s stock worth $1,799,000 after acquiring an additional 131 shares during the period. Finally, Apollon Wealth Management LLC boosted its holdings in shares of State Street by 1.4% in the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock valued at $986,000 after acquiring an additional 138 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity

In related 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 value of $368,536.35. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction dated 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 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. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Down 0.9 %

Shares of NYSE STT opened at $91.82 on Friday. The firm has a market cap of $26.49 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The firm’s 50 day moving average price is $95.53 and its 200 day moving average price is $94.36.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the firm earned $2.04 earnings per share. As a group, sell-side analysts anticipate that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.31%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is 36.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. 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 research report on Thursday, January 2nd. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research note on Friday, December 20th. Barclays increased their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley cut their price target on shares of State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Finally, StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $101.87.

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.