State Street Co. (NYSE:STT) Stake Lifted by Bleakley Financial Group LLC

Bleakley Financial Group LLC increased its position in shares of State Street Co. (NYSE:STT) by 7.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,596 shares of the asset manager’s stock after buying an additional 539 shares during the quarter. Bleakley Financial Group LLC’s holdings in State Street were worth $746,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Albion Financial Group UT bought a new stake in shares of State Street in the 4th quarter worth $25,000. Y.D. More Investments Ltd grew its holdings in State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares during the period. Coastline Trust Co bought a new stake in State Street in the third quarter worth about $44,000. Friedenthal Financial acquired a new stake in State Street in the 4th quarter valued at about $49,000. Finally, Capital Performance Advisors LLP bought a new position in shares of State Street during the 3rd quarter valued at about $54,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction 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 directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.31% of the stock is owned by insiders.

State Street Stock Performance

STT stock opened at $99.44 on Monday. The stock has a market cap of $29.15 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.12 and a beta of 1.43. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a 50 day simple moving average of $98.53 and a 200 day simple moving average of $91.76. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the previous year, the company posted $2.04 EPS. State Street’s revenue was up 12.1% on a year-over-year basis. Research analysts anticipate that State Street Co. will post 9.6 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s payout ratio is 36.89%.

Wall Street Analyst Weigh In

STT has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. Barclays boosted their target price on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Truist Financial decreased their price target on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, State Street has an average rating of “Hold” and an average target price of $100.73.

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.