100,702 Shares in State Street Co. (NYSE:STT) Purchased by Life Planning Partners Inc

Life Planning Partners Inc bought a new position in State Street Co. (NYSE:STT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 100,702 shares of the asset manager's stock, valued at approximately $9,884,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Adero Partners LLC boosted its position in State Street by 3.6% during the fourth 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 during the period. Peapack Gladstone Financial Corp raised its stake in shares of State Street by 2.0% during the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager's stock valued at $467,000 after acquiring an additional 103 shares during the last quarter. Apollon Wealth Management LLC raised its stake in shares of State Street by 1.4% during the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager's stock valued at $986,000 after acquiring an additional 138 shares during the last quarter. Empirical Finance LLC raised its stake in shares of State Street by 1.4% during the third quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager's stock valued at $997,000 after acquiring an additional 158 shares during the last quarter. Finally, ST Germain D J Co. Inc. raised its stake in shares of State Street by 6.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 2,869 shares of the asset manager's stock valued at $282,000 after acquiring an additional 180 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on STT. Keefe, Bruyette & Woods raised shares of State Street from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Barclays increased their price target on shares of State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Truist Financial decreased their price target on shares of State Street from $106.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. StockNews.com downgraded shares of State Street from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Wells Fargo & Company raised their target price on shares of State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $100.73.

Insider Transactions at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm's stock in a transaction 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 sale, the executive vice president now directly owns 111,042 shares in the company, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.31% of the company's stock.

State Street Stock Performance

STT stock traded up $0.14 on Monday, hitting $99.16. The company had a trading volume of 1,520,694 shares, compared to its average volume of 2,132,460. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock's 50-day simple moving average is $98.59 and its 200 day simple moving average is $92.29. The stock has a market cap of $29.07 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 1.12 and a beta of 1.43.

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

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street's dividend payout ratio is presently 36.89%.

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.