State Street Co. (NYSE:STT) Shares Purchased by Global Financial Private Client LLC

Global Financial Private Client LLC raised its stake in State Street Co. (NYSE:STT) by 18.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 16,385 shares of the asset manager’s stock after buying an additional 2,522 shares during the quarter. Global Financial Private Client LLC’s holdings in State Street were worth $1,608,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. KBC Group NV grew its stake in State Street by 20.5% during the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock worth $6,607,000 after buying an additional 12,707 shares during the last quarter. Asset Management One Co. Ltd. grew its position in shares of State Street by 17.3% during the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock worth $12,124,000 after acquiring an additional 20,183 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of State Street by 39.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock worth $10,794,000 after acquiring an additional 41,180 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in State Street by 43.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock valued at $6,069,000 after purchasing an additional 20,968 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its stake in State Street by 118.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager’s stock valued at $3,775,000 after purchasing an additional 23,171 shares during the period. 87.44% of the stock is owned by institutional investors.

Insider Activity

In other State Street 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 transaction, the executive vice president now 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 through the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were 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. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,460 shares of company stock worth $2,499,860 in the last 90 days. Company insiders own 0.31% of the company’s stock.

State Street Stock Performance

STT opened at $94.46 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $101.91. The firm has a market cap of $27.69 billion, a PE ratio of 14.92, a P/E/G ratio of 1.24 and a beta of 1.43. The business has a fifty day simple moving average of $97.46 and a 200-day simple moving average of $89.05.

State Street (NYSE:STT) last released its quarterly 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 business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The firm’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.93 earnings per share. As a group, equities analysts predict that State Street Co. will post 8.42 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.22%. State Street’s payout ratio is presently 48.03%.

Wall Street Analyst Weigh In

STT has been the topic of a number of recent analyst reports. Barclays lifted their price target on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Wells Fargo & Company raised their price target on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. The Goldman Sachs Group upped their price objective on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, State Street has a consensus rating of “Hold” and a consensus price target of $100.33.

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.