Brighton Jones LLC Makes New Investment in State Street Co. (NYSE:STT)

Brighton Jones LLC purchased a new stake in State Street Co. (NYSE:STT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,012 shares of the asset manager's stock, valued at approximately $296,000.

A number of other institutional investors and hedge funds have also modified their holdings of STT. Geode Capital Management LLC increased its position in State Street by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager's stock worth $632,111,000 after buying an additional 41,442 shares during the period. FMR LLC boosted its holdings in State Street by 15.8% in the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager's stock valued at $540,796,000 after purchasing an additional 833,679 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in State Street by 30.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager's stock worth $514,136,000 after purchasing an additional 1,354,560 shares during the last quarter. Metropolis Capital Ltd increased its holdings in shares of State Street by 3.9% during the 3rd quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager's stock worth $379,209,000 after purchasing an additional 161,466 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of State Street by 13.8% during the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager's stock valued at $306,116,000 after buying an additional 408,792 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Price Performance

Shares of STT traded up $0.34 during mid-day trading on Tuesday, hitting $100.58. 2,012,086 shares of the company traded hands, compared to its average volume of 2,218,778. 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 stock has a market capitalization of $29.48 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.11 and a beta of 1.43. The business has a 50-day moving average of $98.08 and a 200 day moving average of $90.74. State Street Co. has a one year low of $70.20 and a one year high of $101.91.

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 analysts' consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period last year, the company earned $2.04 EPS. The business's quarterly revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts expect that State Street Co. will post 9.43 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently announced 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 was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.02%. State Street's payout ratio is presently 36.89%.

Insider Activity

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm's stock in a transaction on 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 directly owns 111,042 shares in the company, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.31% of the company's stock.

Wall Street Analyst Weigh In

STT has been the topic of a number of research reports. Morgan Stanley lowered their price objective on State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a research report on Friday, January 3rd. Truist Financial reduced their price objective on shares of State Street from $106.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. Wells Fargo & Company upped their target price on shares of State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $103.00 price target (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Finally, StockNews.com raised State Street from a "hold" rating to a "buy" rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price 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.