Jones Financial Companies Lllp Increases Stock Position in State Street Co. (NYSE:STT)

Jones Financial Companies Lllp increased its holdings in State Street Co. (NYSE:STT) by 42.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,261 shares of the asset manager’s stock after acquiring an additional 38,396 shares during the quarter. Jones Financial Companies Lllp’s holdings in State Street were worth $12,589,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of STT. Albion Financial Group UT acquired a new position in State Street in the fourth quarter valued at $25,000. Y.D. More Investments Ltd grew its holdings in shares of State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after buying an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in State Street in the 4th quarter valued at about $42,000. Coastline Trust Co purchased a new stake in State Street during the 3rd quarter valued at approximately $44,000. Finally, Friedenthal Financial acquired a new stake in State Street during the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Activity

In related news, Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction that occurred 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 owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the business’s 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on STT shares. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a report on Friday, December 20th. Wells Fargo & Company increased their price target on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, State Street presently has a consensus rating of “Hold” and an average price target of $100.73.

State Street Stock Performance

Shares of STT stock opened at $96.86 on Tuesday. The stock has a fifty day moving average price of $98.56 and a 200 day moving average price of $93.83. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $27.94 billion, a PE ratio of 11.75, a P/E/G ratio of 1.11 and a beta of 1.43. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating 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 analysts’ expectations of $3.27 billion. During the same quarter last year, the business posted $2.04 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. Sell-side analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal 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 dividend yield of 3.14%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is presently 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.