Kestra Investment Management LLC Acquires New Shares in State Street Co. (NYSE:STT)

Kestra Investment Management LLC purchased a new stake in shares of State Street Co. (NYSE:STT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,340 shares of the asset manager's stock, valued at approximately $426,000.

A number of other large investors have also made changes to their positions in STT. Adero Partners LLC lifted its position in shares of State Street by 3.6% during the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock valued at $285,000 after buying an additional 100 shares in the last quarter. Peapack Gladstone Financial Corp lifted its position in shares of State Street by 2.0% during the 3rd 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. Apollon Wealth Management LLC lifted its position in shares of State Street by 1.4% during the 4th quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager's stock valued at $986,000 after buying an additional 138 shares in the last quarter. Empirical Finance LLC lifted its position in shares of State Street by 1.4% during the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager's stock valued at $997,000 after buying an additional 158 shares in the last quarter. Finally, ST Germain D J Co. Inc. lifted its position in shares of State Street by 6.7% during 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 buying an additional 180 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the sale, the director now owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,020 shares of company stock worth $2,674,661 over the last three months. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on STT shares. Wells Fargo & Company lifted their price objective on State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, January 2nd. Keefe, Bruyette & Woods raised shares of State Street from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Morgan Stanley cut their price objective on shares of State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a report on Friday, January 3rd. Truist Financial cut 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. Finally, Wolfe Research raised shares of State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $100.73.

State Street Trading Down 0.9 %

STT traded down $0.91 during trading on Friday, reaching $98.74. The company had a trading volume of 1,808,387 shares, compared to its average volume of 1,642,570. The stock has a market cap of $28.48 billion, a P/E ratio of 11.98, a PEG ratio of 1.11 and a beta of 1.43. The business has a 50 day simple moving average of $98.55 and a 200-day simple moving average of $92.79. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street's revenue was up 12.1% on a year-over-year basis. During the same period last year, the company earned $2.04 earnings per share. On average, equities analysts anticipate that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.08%. State Street's dividend payout ratio is presently 36.89%.

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.