C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of State Street Co. (NYSE:STT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 377,235 shares of the asset manager's stock, valued at approximately $37,026,000. State Street accounts for 1.3% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors' portfolio, making the stock its 14th biggest position. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned approximately 0.13% of State Street at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Albion Financial Group UT acquired a new stake in shares of State Street in the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd increased its stake in shares of State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after purchasing an additional 197 shares during the period. Coastline Trust Co acquired a new stake in shares of State Street in the third quarter valued at approximately $44,000. Friedenthal Financial acquired a new stake in shares of State Street in the fourth quarter valued at approximately $49,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of State Street in the third quarter valued at approximately $54,000. Institutional investors and hedge funds own 87.44% of the company's stock.
Insider Activity at State Street
In other State Street news, 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 value of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,020 shares of company stock worth $2,674,661. 0.31% of the stock is owned by corporate insiders.
State Street Price Performance
NYSE:STT traded down $0.91 during trading hours on Friday, reaching $98.74. 1,808,387 shares of the company's stock were exchanged, compared to its average volume of 1,973,938. The company has a market capitalization of $28.48 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. State Street Co. has a 12 month low of $70.20 and a 12 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. The business's 50-day simple moving average is $98.55 and its two-hundred day simple moving average is $92.79.
State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results 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 the consensus estimate 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 quarter in the prior year, the firm earned $2.04 EPS. Sell-side analysts expect that State Street Co. will post 9.65 EPS for the current fiscal year.
State Street Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.08%. State Street's dividend payout ratio (DPR) is presently 36.89%.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on STT. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $103.00 price objective (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Morgan Stanley decreased their price objective on shares of State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a report on Friday, January 3rd. Wells Fargo & Company increased their price objective on shares of State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, January 2nd. Finally, StockNews.com cut shares of State Street from a "buy" rating to a "hold" rating in a report on Friday, February 14th. 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, the stock presently has an average rating of "Hold" and a consensus target price of $100.73.
Read Our Latest Analysis on State Street
About State Street
(
Free Report)
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.
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