2,383 Shares in State Street Co. (NYSE:STT) Acquired by Trust Investment Advisors

Trust Investment Advisors acquired a new stake in State Street Co. (NYSE:STT) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,383 shares of the asset manager’s stock, valued at approximately $234,000.

Several other large investors have also recently added to or reduced their stakes in STT. Flagship Harbor Advisors LLC bought a new stake in shares of State Street in the fourth quarter valued at about $272,000. Charles Schwab Investment Management Inc. boosted its holdings in State Street by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager’s stock valued at $184,025,000 after purchasing an additional 10,404 shares during the period. Janney Montgomery Scott LLC grew its position in shares of State Street by 11.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock worth $7,289,000 after purchasing an additional 7,446 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of State Street during the 4th quarter worth approximately $395,000. Finally, Raymond James Financial Inc. bought a new position in shares of State Street during the fourth quarter worth approximately $44,070,000. Institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on STT. Morgan Stanley reduced their price target on State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. 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 report on Friday, December 20th. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Barclays increased their price objective on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, State Street presently has an average rating of “Hold” and an average price target of $101.87.

State Street Stock Down 0.4 %

Shares of NYSE:STT opened at $92.47 on Wednesday. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a market capitalization of $26.67 billion, a PE ratio of 11.22, 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. The company has a fifty day moving average of $95.84 and a 200-day moving average of $94.40.

State Street (NYSE:STT) last issued 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 business had revenue of $3.41 billion during 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 for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.04 EPS. On average, equities analysts predict that State Street Co. will post 9.68 EPS 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 given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is currently 36.89%.

Insider Activity

In other news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

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.