Flagship Harbor Advisors LLC Invests $272,000 in State Street Co. (NYSE:STT)

Flagship Harbor Advisors LLC 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 disclosure with the Securities and Exchange Commission. The firm acquired 2,771 shares of the asset manager's stock, valued at approximately $272,000.

A number of other large investors have also bought and sold shares of STT. Peapack Gladstone Financial Corp grew its stake in shares of State Street by 2.0% in the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager's stock valued at $467,000 after buying an additional 103 shares in the last quarter. Rockland Trust Co. increased its stake in shares of State Street by 1.8% during the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager's stock worth $737,000 after purchasing an additional 150 shares during the last quarter. Empirical Finance LLC raised its holdings in shares of State Street by 1.4% in the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager's stock valued at $997,000 after purchasing an additional 158 shares during the period. ST Germain D J Co. Inc. lifted its stake in State Street by 6.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 2,869 shares of the asset manager's stock valued at $282,000 after purchasing an additional 180 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its stake in State Street by 3.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 5,790 shares of the asset manager's stock valued at $512,000 after acquiring an additional 184 shares during the period. 87.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is owned by insiders.

State Street Price Performance

Shares of STT traded up $1.41 during midday trading on Thursday, reaching $102.26. The stock had a trading volume of 318,531 shares, compared to its average volume of 2,085,013. The company has a market capitalization of $29.98 billion, a price-to-earnings ratio of 12.41, 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 $102.63. The company's 50-day moving average is $98.31 and its 200 day moving average is $90.97. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts' consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion for 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 firm's revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.04 EPS. On average, equities analysts predict that State Street Co. will post 9.43 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a $0.76 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 annualized dividend and a yield of 2.97%. State Street's payout ratio is currently 36.89%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on STT. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Barclays lifted their target price on State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Evercore ISI boosted their price objective 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. Wells Fargo & Company raised their price target on shares of State Street from $108.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, January 2nd. Finally, Keefe, Bruyette & Woods upgraded State Street from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average 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.