State Street Co. (NYSE:STT) Shares Purchased by Global Financial Private Client LLC

Global Financial Private Client LLC raised its stake in shares of State Street Co. (NYSE:STT) by 18.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,385 shares of the asset manager’s stock after buying an additional 2,522 shares during the quarter. Global Financial Private Client LLC’s holdings in State Street were worth $1,608,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of STT. Ashton Thomas Private Wealth LLC acquired a new stake in shares of State Street during the second quarter valued at $27,000. Coastline Trust Co acquired a new stake in shares of State Street during the 3rd quarter worth about $44,000. Friedenthal Financial purchased a new stake in shares of State Street during the fourth quarter worth about $49,000. Capital Performance Advisors LLP purchased a new position in shares of State Street during the third quarter valued at approximately $54,000. Finally, Versant Capital Management Inc boosted its position in State Street by 37.0% during the fourth quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock worth $72,000 after acquiring an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling

In other State Street news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on Monday, November 25th. The stock was 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 approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on STT shares. Deutsche Bank Aktiengesellschaft boosted their price target on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a report on Monday, November 11th. Truist Financial started coverage on State Street in a research note on Tuesday, January 7th. They issued a “hold” rating and a $106.00 price target on the stock. Barclays upped their price objective on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, State Street has an average rating of “Hold” and a consensus price target of $100.33.

State Street Stock Performance

Shares of NYSE:STT opened at $94.46 on Tuesday. 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 Co. has a one year low of $70.20 and a one year high of $101.91. The business’s 50-day simple moving average is $97.46 and its 200 day simple moving average is $89.05. The company has a market cap of $27.69 billion, a P/E ratio of 14.92, a PEG ratio of 1.24 and a beta of 1.43.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business’s revenue was up 21.1% on a year-over-year basis. During the same period last year, the business earned $1.93 EPS. On average, sell-side analysts forecast that State Street Co. will post 8.42 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s payout ratio is 48.03%.

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.