Ferguson Wellman Capital Management Inc. Purchases 36,691 Shares of State Street Co. (NYSE:STT)

Ferguson Wellman Capital Management Inc. lifted its position in State Street Co. (NYSE:STT) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,064,840 shares of the asset manager’s stock after buying an additional 36,691 shares during the period. State Street comprises 2.0% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 12th largest position. Ferguson Wellman Capital Management Inc.’s holdings in State Street were worth $104,514,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC grew its position in shares of State Street by 30.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after purchasing an additional 1,354,560 shares during the period. FMR LLC lifted its stake in State Street by 15.8% in the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after acquiring an additional 833,679 shares in the last quarter. Wellington Management Group LLP boosted its position in State Street by 818.1% during the 3rd quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock worth $45,889,000 after acquiring an additional 462,201 shares during the last quarter. National Bank of Canada FI grew its stake in shares of State Street by 99.4% during the 3rd quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager’s stock worth $78,574,000 after acquiring an additional 442,725 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of State Street by 13.8% in the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after purchasing an additional 408,792 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Trading Down 0.2 %

STT stock opened at $99.44 on Monday. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The stock has a market cap of $29.15 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The company has a fifty day moving average price of $98.53 and a two-hundred day moving average price of $91.76. 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 announced its earnings results 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 business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. State Street’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.04 EPS. Equities analysts anticipate that State Street Co. will post 9.6 EPS for the current year.

State Street Dividend Announcement

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

Wall Street Analysts Forecast Growth

STT has been the subject of several recent research reports. Truist Financial reduced their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 price objective (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. Finally, Morgan Stanley dropped their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $100.73.

Insider Transactions at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by corporate insiders.

State Street 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.