State Street Co. (NYSE:STT) Shares Bought by Quent Capital LLC

Quent Capital LLC raised its position in State Street Co. (NYSE:STT) by 73.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,160 shares of the asset manager’s stock after acquiring an additional 914 shares during the quarter. Quent Capital LLC’s holdings in State Street were worth $212,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Albion Financial Group UT acquired a new position in State Street in the 4th quarter valued at $25,000. Y.D. More Investments Ltd increased its stake in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after buying an additional 197 shares during the period. Coastline Trust Co acquired a new position in State Street in the 3rd quarter valued at $44,000. Friedenthal Financial acquired a new position in State Street in the 4th quarter valued at $49,000. Finally, Hager Investment Management Services LLC acquired a new position in State Street in the 4th quarter valued at $56,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.31% of the company’s stock.

State Street Price Performance

NYSE:STT opened at $98.23 on Thursday. The firm has a market cap of $28.80 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The company’s 50-day moving average is $98.55 and its two-hundred day moving average is $92.01. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating 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 net margin of 12.14% and a return on equity of 12.60%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.04 EPS. Research analysts expect that State Street Co. will post 9.6 EPS for the current year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.76 dividend. 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 3.09%. State Street’s dividend payout ratio (DPR) is 36.89%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on STT. Morgan Stanley lowered their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Truist Financial lowered their price target on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Barclays upped 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, January 6th. Evercore ISI upped their price target on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and a consensus price target of $100.73.

State Street Company 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.