Life Planning Partners Inc bought a new stake in State Street Co. (NYSE:STT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 100,702 shares of the asset manager's stock, valued at approximately $9,884,000. State Street accounts for 1.4% of Life Planning Partners Inc's investment portfolio, making the stock its 21st biggest holding.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. RWA Wealth Partners LLC purchased a new stake in State Street during the 4th quarter worth approximately $329,000. Summit Securities Group LLC acquired a new position in State Street in the 4th quarter valued at about $69,000. Schroder Investment Management Group grew its stake in shares of State Street by 3.9% in the 4th quarter. Schroder Investment Management Group now owns 174,225 shares of the asset manager's stock valued at $17,123,000 after buying an additional 6,473 shares during the period. Allianz SE purchased a new position in State Street in the fourth quarter worth approximately $1,776,000. Finally, Allstate Corp acquired a new stake in State Street during the fourth quarter worth $832,000. Hedge funds and other institutional investors own 87.44% of the company's stock.
Insider Transactions at State Street
In other State Street news, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company's stock.
State Street Price Performance
NYSE:STT traded down $5.38 during trading hours on Thursday, reaching $84.21. 1,004,088 shares of the company traded hands, compared to its average volume of 2,157,996. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The firm's 50-day moving average is $94.85 and its 200-day moving average is $94.62. The stock has a market cap of $24.29 billion, a P/E ratio of 10.22, a P/E/G ratio of 1.11 and a beta of 1.44. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00.
State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) 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 business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the prior year, the business earned $2.04 earnings per share. The business's revenue was up 12.1% on a year-over-year basis. Equities research analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.
State Street Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.76 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.61%. State Street's dividend payout ratio is currently 36.89%.
Analyst Ratings Changes
Several research firms recently issued reports on STT. Citigroup decreased their target price on State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Evercore ISI cut their price target on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. upgraded shares of State Street from an "underweight" rating to a "neutral" rating and set a $95.00 target price on the stock in a research note on Friday, December 20th. Finally, Barclays boosted their price target on shares of State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $102.07.
View Our Latest Report on State Street
About State Street
(
Free Report)
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.
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