Commonwealth Equity Services LLC Acquires 2,213 Shares of State Street Co. (NYSE:STT)

Commonwealth Equity Services LLC increased its holdings in shares of State Street Co. (NYSE:STT) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,416 shares of the asset manager’s stock after buying an additional 2,213 shares during the period. Commonwealth Equity Services LLC’s holdings in State Street were worth $10,543,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of STT. OneDigital Investment Advisors LLC bought a new position in State Street during the third quarter worth about $270,000. Empowered Funds LLC boosted its stake in State Street by 11.4% during the 3rd quarter. Empowered Funds LLC now owns 4,929 shares of the asset manager’s stock worth $432,000 after acquiring an additional 504 shares during the last quarter. Pathstone Holdings LLC grew its holdings in State Street by 1.2% during the third quarter. Pathstone Holdings LLC now owns 74,575 shares of the asset manager’s stock valued at $6,598,000 after purchasing an additional 856 shares during the period. Banque Cantonale Vaudoise increased its stake in State Street by 118.9% in the third quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager’s stock valued at $3,775,000 after purchasing an additional 23,171 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in State Street in the third quarter worth $3,565,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the business’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 transaction of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares of the company’s stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the sale, the director now directly owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

State Street Price Performance

Shares of NYSE STT opened at $90.33 on Thursday. 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 business has a 50-day moving average of $96.14 and a 200-day moving average of $94.16. The stock has a market capitalization of $26.06 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 1.11 and a beta of 1.44. State Street Co. has a fifty-two week low of $70.20 and a fifty-two 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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company earned $2.04 earnings per share. As a group, sell-side analysts predict that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.37%. State Street’s payout ratio is 36.89%.

Analyst Ratings Changes

A number of research firms recently commented on STT. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research report on Friday, December 20th. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Wells Fargo & Company raised their price target on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $103.00 target price (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.20.

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.