BostonPremier Wealth LLC Makes New $283,000 Investment in State Street Co. (NYSE:STT)

BostonPremier Wealth LLC acquired a new stake in shares of State Street Co. (NYSE:STT) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,882 shares of the asset manager’s stock, valued at approximately $283,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC boosted its position in State Street by 30.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after purchasing an additional 1,354,560 shares during the period. FMR LLC raised its holdings in State Street by 15.8% in the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after acquiring an additional 833,679 shares during the period. Wellington Management Group LLP lifted its position in State Street by 818.1% during the 3rd quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock worth $45,889,000 after acquiring an additional 462,201 shares during the last quarter. National Bank of Canada FI boosted its holdings in State Street by 99.4% during the third quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager’s stock valued at $78,574,000 after acquiring an additional 442,725 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of State Street by 13.8% in the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock worth $306,116,000 after purchasing an additional 408,792 shares during the period. Institutional investors own 87.44% of the company’s stock.

State Street Trading Down 1.4 %

Shares of STT stock opened at $98.03 on Tuesday. The company has a market capitalization of $28.74 billion, a P/E ratio of 11.90, a P/E/G ratio of 1.12 and a beta of 1.43. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a 50-day moving average price of $98.53 and a 200 day moving average price of $91.82.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping 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 business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the business earned $2.04 EPS. State Street’s revenue was up 12.1% compared to the same quarter last year. Research analysts forecast that State Street Co. will post 9.6 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.76 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.10%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Morgan Stanley lowered their target price on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $103.00 target price (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a report on Friday, December 20th. Evercore ISI increased their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.73.

Insider Activity at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by company insiders.

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.