State Street Co. (NYSE:STT) Position Increased by SPC Financial Inc.

SPC Financial Inc. increased its stake in State Street Co. (NYSE:STT) by 6.4% during the 4th quarter, HoldingsChannel reports. The firm owned 5,000 shares of the asset manager’s stock after acquiring an additional 300 shares during the period. SPC Financial Inc.’s holdings in State Street were worth $491,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in STT. Albion Financial Group UT bought a new stake in shares of State Street in the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd lifted its holdings in shares of State Street by 116.6% in 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 during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of State Street in the 4th quarter worth approximately $42,000. Coastline Trust Co bought a new stake in shares of State Street in the 3rd quarter worth approximately $44,000. Finally, Friedenthal Financial bought a new stake in shares of State Street in the 4th quarter worth approximately $49,000. Institutional investors own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on STT. Truist Financial reduced their price target on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Barclays boosted their price target on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. StockNews.com upgraded State Street from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company boosted their price target on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $100.73.

Insider Transactions at State Street

In related news, EVP Ann Fogarty sold 3,705 shares of the company’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 transaction, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

State Street Stock Up 1.0 %

Shares of State Street stock opened at $92.63 on Thursday. The stock’s fifty day moving average is $98.28 and its 200-day moving average is $93.89. The firm has a market capitalization of $26.72 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The company has a quick ratio of 0.56, a current 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.

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, topping analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion for 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%. State Street’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.04 earnings per share. Equities analysts anticipate that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.28%. 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.