Sovran Advisors LLC Acquires Shares of 2,116 State Street Co. (NYSE:STT)

Sovran Advisors LLC bought a new position in shares of State Street Co. (NYSE:STT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,116 shares of the asset manager’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Albion Financial Group UT acquired a new position in State Street in the fourth quarter valued at about $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 valued at $36,000 after purchasing an additional 197 shares during the period. Coastline Trust Co acquired a new stake in State Street in the third quarter worth $44,000. Friedenthal Financial acquired a new position in shares of State Street in the 4th quarter valued at $49,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of State Street in the 4th quarter valued at $56,000. Institutional investors own 87.44% of the company’s stock.

Insider Activity

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction on 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 $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on STT. Morgan Stanley decreased their target price on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. raised 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. Finally, Wells Fargo & Company boosted their price objective on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, State Street has a consensus rating of “Hold” and a consensus target price of $100.73.

State Street Trading Up 0.8 %

Shares of State Street stock opened at $99.05 on Friday. The stock has a market cap of $29.04 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.12 and a beta of 1.43. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The business’s 50 day moving average is $98.56 and its 200-day moving average is $92.05.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS 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 analysts’ expectations of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.04 earnings per share. Equities research analysts predict that State Street Co. will post 9.6 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.76 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 annualized dividend and a yield of 3.07%. State Street’s dividend payout ratio is 36.89%.

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.