InvesTrust Invests $742,000 in State Street Co. (NYSE:STT)

InvesTrust bought a new stake in shares of State Street Co. (NYSE:STT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,550 shares of the asset manager’s stock, valued at approximately $742,000.

A number of other large investors have also added to or reduced their stakes in STT. Ashton Thomas Private Wealth LLC purchased a new stake in shares of State Street in the second quarter worth about $27,000. Coastline Trust Co purchased a new stake in State Street in the 3rd quarter valued at about $44,000. Capital Performance Advisors LLP purchased a new position in State Street during the 3rd quarter valued at about $54,000. Versant Capital Management Inc grew its holdings in State Street by 37.0% during the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock worth $72,000 after acquiring an additional 197 shares in the last quarter. Finally, Tobam purchased a new stake in State Street in the 3rd quarter valued at $77,000. 87.44% of the stock is currently owned by institutional investors.

State Street Price Performance

Shares of STT stock traded up $0.01 during trading hours on Wednesday, reaching $97.73. 622,922 shares of the company were exchanged, compared to its average volume of 1,308,698. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s fifty day moving average is $97.19 and its two-hundred day moving average is $88.40. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $101.91. The company has a market cap of $28.65 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 1.24 and a beta of 1.43.

State Street (NYSE:STT) last released its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company’s revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 EPS. Sell-side analysts forecast that State Street Co. will post 8.42 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.11%. State Street’s dividend payout ratio is 48.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on STT shares. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a report on Friday, December 20th. Morgan Stanley reduced their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Barclays lifted their price target on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research note on Friday, December 27th. Finally, Wells Fargo & Company upped their price target on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, State Street has a consensus rating of “Hold” and a consensus price target of $100.33.

Insider Activity

In other news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the sale, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,460 shares of company stock valued at $2,499,860 in the last quarter. Company 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.