InvesTrust Buys Shares of 7,550 State Street Co. (NYSE:STT)

InvesTrust purchased a new position in shares of State Street Co. (NYSE:STT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,550 shares of the asset manager's stock, valued at approximately $742,000.

Other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new position in shares of State Street during the 2nd quarter worth approximately $27,000. Coastline Trust Co acquired a new position in State Street during the third quarter worth $44,000. Capital Performance Advisors LLP bought a new position in shares of State Street during the third quarter valued at $54,000. Versant Capital Management Inc boosted its stake in shares of State Street by 37.0% in the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager's stock valued at $72,000 after purchasing an additional 197 shares in the last quarter. Finally, Tobam bought a new stake in shares of State Street in the 3rd quarter worth about $77,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods upgraded shares of State Street from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Barclays increased 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. Morgan Stanley dropped their price target on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on State Street from $90.00 to $95.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company raised their target price on State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, State Street presently has a consensus rating of "Hold" and a consensus target price of $100.33.

State Street Trading Down 0.0 %

STT traded down $0.04 during trading on Wednesday, reaching $97.68. 1,575,657 shares of the company's stock were exchanged, compared to its average volume of 1,504,431. The company's fifty day moving average price is $97.19 and its 200-day moving average price is $88.40. The firm has a market capitalization of $28.63 billion, a PE ratio of 15.43, a P/E/G ratio of 1.24 and a beta of 1.43. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $101.91. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the prior year, the company posted $1.93 earnings per share. The firm's revenue was up 21.1% on a year-over-year basis. As a group, equities analysts forecast that State Street Co. will post 8.42 EPS for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, January 2nd. State Street's dividend payout ratio is currently 48.03%.

Insider Activity at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of State Street 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 of the company's stock, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 111,042 shares of the company's stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is currently owned by company insiders.

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.