4,300 Shares in State Street Co. (NYSE:STT) Purchased by Carlson Capital L.P.

Carlson Capital L.P. purchased a new position in State Street Co. (NYSE:STT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,300 shares of the asset manager’s stock, valued at approximately $422,000. State Street makes up about 0.2% of Carlson Capital L.P.’s portfolio, making the stock its 29th biggest holding.

Other institutional investors have also modified their holdings of the company. Albion Financial Group UT acquired a new position in shares of State Street in the fourth quarter worth about $25,000. Y.D. More Investments Ltd lifted its stake in shares of State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares in the last quarter. Coastline Trust Co acquired a new stake in State Street during the third quarter valued at approximately $44,000. Friedenthal Financial acquired a new stake in State Street during the fourth quarter valued at approximately $49,000. Finally, Capital Performance Advisors LLP acquired a new stake in State Street during the third quarter valued at approximately $54,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on STT shares. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Morgan Stanley cut their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Finally, Barclays upped their price objective on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $100.73.

State Street Stock Performance

Shares of STT stock opened at $97.29 on Thursday. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The firm has a market capitalization of $28.07 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The business has a 50 day simple moving average of $98.52 and a 200 day simple moving average of $93.32. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the company posted $2.04 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities research analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is 36.89%.

Insider Buying and Selling

In other news, EVP Ann Fogarty sold 3,705 shares of the firm’s 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 sale, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

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.