Janney Montgomery Scott LLC Increases Stock Position in State Street Co. (NYSE:STT)

Janney Montgomery Scott LLC increased its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 11.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,268 shares of the asset manager's stock after buying an additional 7,446 shares during the period. Janney Montgomery Scott LLC's holdings in State Street were worth $7,289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STT. SG Americas Securities LLC raised its position in State Street by 569.1% in the 4th quarter. SG Americas Securities LLC now owns 16,861 shares of the asset manager's stock valued at $1,655,000 after purchasing an additional 14,341 shares in the last quarter. Albion Financial Group UT acquired a new stake in shares of State Street in the 4th quarter valued at $25,000. XML Financial LLC purchased a new stake in shares of State Street during the 4th quarter worth $229,000. Atomi Financial Group Inc. boosted its position in shares of State Street by 9.9% during the 4th quarter. Atomi Financial Group Inc. now owns 3,366 shares of the asset manager's stock worth $330,000 after acquiring an additional 302 shares in the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new position in State Street in the fourth quarter valued at approximately $243,000. Hedge funds and other institutional investors own 87.44% of the company's stock.

State Street Stock Performance

NYSE STT traded down $0.62 during trading hours on Friday, hitting $101.61. 1,664,622 shares of the stock were exchanged, compared to its average volume of 1,965,969. 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 stock has a 50-day moving average of $98.51 and a 200 day moving average of $91.20. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The company has a market cap of $29.79 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.13 and a beta of 1.43.

State Street (NYSE:STT - Get Free Report) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter in the prior year, the company earned $2.04 earnings per share. State Street's revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts forecast that State Street Co. will post 9.6 earnings per share for the current year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street's dividend payout ratio (DPR) is presently 36.89%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STT. Morgan Stanley reduced their price objective on shares of State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a research report on Friday, January 3rd. Keefe, Bruyette & Woods raised 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. Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. Truist Financial cut their target price on State Street from $106.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Finally, Barclays upped 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. 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, State Street has an average rating of "Hold" and an average target price of $100.73.

Insider Activity

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the business's stock in a transaction that occurred on 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 owns 111,042 shares of the company's stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.31% of the company's stock.

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.