Nkcfo LLC Invests $2.75 Million in State Street Co. (NYSE:STT)

Nkcfo LLC purchased a new position in State Street Co. (NYSE:STT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 28,000 shares of the asset manager's stock, valued at approximately $2,748,000. State Street accounts for approximately 1.2% of Nkcfo LLC's investment portfolio, making the stock its 18th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Albion Financial Group UT purchased a new stake in State Street during the fourth quarter worth $25,000. Y.D. More Investments Ltd raised its position 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 acquiring an additional 197 shares in the last quarter. Coastline Trust Co purchased a new stake in shares of State Street during the 3rd quarter worth $44,000. Friedenthal Financial bought a new stake in State Street during the fourth quarter valued at about $49,000. Finally, Capital Performance Advisors LLP bought a new stake in State Street during the third quarter valued at about $54,000. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Performance

Shares of State Street stock traded down $0.62 on Wednesday, reaching $99.82. 2,008,597 shares of the stock were exchanged, compared to its average volume of 1,977,687. The business has a 50 day moving average price of $98.59 and a two-hundred day moving average price of $92.54. The firm has a market capitalization of $28.80 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.11 and a beta of 1.43. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. 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 (NYSE:STT - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate 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 net margin of 12.14% and a return on equity of 12.60%. The business's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.04 EPS. Analysts anticipate that State Street Co. will post 9.65 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently declared 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. This represents a $3.04 annualized dividend and a yield of 3.05%. The ex-dividend date was Thursday, January 2nd. State Street's dividend payout ratio is currently 36.89%.

Insiders Place Their Bets

In other news, EVP Ann Fogarty sold 3,705 shares of the firm's 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 owns 50,816 shares of the company's stock, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were 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 owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,020 shares of company stock valued at $2,674,661. Company insiders own 0.31% of the company's stock.

Analyst Ratings Changes

STT has been the subject of several analyst reports. Morgan Stanley decreased their price target on shares of State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a research report on Friday, January 3rd. Keefe, Bruyette & Woods raised shares of State Street from a "market perform" rating to an "outperform" rating and increased their target price for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Truist Financial lowered their target price on shares of State Street from $106.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. Barclays upped 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. Finally, Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $100.73.

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.