Godsey & Gibb Inc. Takes Position in State Street Co. (NYSE:STT)

Godsey & Gibb Inc. purchased a new position in shares of State Street Co. (NYSE:STT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 203,480 shares of the asset manager's stock, valued at approximately $19,972,000. State Street accounts for approximately 2.0% of Godsey & Gibb Inc.'s investment portfolio, making the stock its 25th biggest position. Godsey & Gibb Inc. owned about 0.07% of State Street at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC purchased a new stake in State Street during the second quarter worth $27,000. American Century Companies Inc. increased its position in shares of State Street by 1.5% in the second quarter. American Century Companies Inc. now owns 350,156 shares of the asset manager's stock valued at $25,912,000 after buying an additional 5,066 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of State Street by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,033,544 shares of the asset manager's stock worth $224,466,000 after buying an additional 259,729 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of State Street by 40.5% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 5,606 shares of the asset manager's stock worth $415,000 after buying an additional 1,616 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in State Street by 21.0% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,395 shares of the asset manager's stock valued at $917,000 after acquiring an additional 2,153 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.

Insider Activity at State Street

In related news, EVP John Plansky sold 13,859 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the transaction, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STT. Wells Fargo & Company lifted their target price on shares of State Street from $108.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, January 2nd. Evercore ISI lifted their price objective on State Street from $89.00 to $94.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upgraded State Street from an "underweight" rating to a "neutral" rating and set a $95.00 target price on the stock in a report on Friday, December 20th. Barclays raised 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, The Goldman Sachs Group upped their price objective on State Street from $98.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $100.33.

State Street Trading Up 0.7 %

Shares of STT stock traded up $0.69 during trading hours on Thursday, hitting $100.46. 2,598,285 shares of the company were exchanged, compared to its average volume of 2,023,867. The firm has a fifty day moving average of $97.56 and a 200 day moving average of $89.28. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a 1 year low of $70.20 and a 1 year high of $101.91. The firm has a market cap of $29.45 billion, a PE ratio of 15.87, a PEG ratio of 0.97 and a beta of 1.43.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter last year, the firm posted $1.93 earnings per share. State Street's revenue was up 21.1% on a year-over-year basis. Analysts expect that State Street Co. will post 8.45 earnings per share for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Thursday, January 2nd. State Street's dividend payout ratio (DPR) is currently 48.03%.

About State Street

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.