Donoghue Forlines LLC Takes $1.53 Million Position in State Street Co. (NYSE:STT)

Donoghue Forlines LLC purchased a new position in State Street Co. (NYSE:STT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,585 shares of the asset manager’s stock, valued at approximately $1,530,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. increased its holdings in shares of State Street by 5.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock valued at $186,000 after acquiring an additional 129 shares in the last quarter. Pacer Advisors Inc. increased its stake in State Street by 4.6% during the 2nd quarter. Pacer Advisors Inc. now owns 20,939 shares of the asset manager’s stock valued at $1,549,000 after purchasing an additional 922 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in State Street by 39.3% in the second quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock worth $10,794,000 after buying an additional 41,180 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of State Street by 3.4% in the second quarter. ProShare Advisors LLC now owns 79,042 shares of the asset manager’s stock worth $5,849,000 after buying an additional 2,574 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of State Street by 7.4% during the second quarter. Public Sector Pension Investment Board now owns 51,086 shares of the asset manager’s stock valued at $3,780,000 after buying an additional 3,499 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Insider Transactions at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

State Street Trading Down 0.3 %

NYSE:STT opened at $96.92 on Thursday. State Street Co. has a one year low of $70.20 and a one year high of $101.91. The business has a fifty day moving average price of $97.86 and a 200-day moving average price of $90.13. The firm has a market capitalization of $28.41 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 1.07 and a beta of 1.43. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3,267,560 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.04 earnings per share. Sell-side analysts forecast that State Street Co. will post 9.57 EPS for the current year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a $0.76 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.14%. State Street’s payout ratio is currently 36.89%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on STT shares. Barclays boosted their price objective 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 price target (down from $104.00) on shares of State Street in a report on Wednesday. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a report on Friday, December 20th. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Morgan Stanley reduced their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $100.73.

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.