State Street Co. (NYSE:STT) Position Boosted by Bradley Foster & Sargent Inc. CT

Bradley Foster & Sargent Inc. CT increased its position in State Street Co. (NYSE:STT) by 1.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,604 shares of the asset manager’s stock after purchasing an additional 501 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in State Street were worth $4,083,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Barclays increased their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Morgan Stanley lowered their target price on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Truist Financial reduced 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. Finally, JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, State Street presently has an average rating of “Hold” and a consensus target price of $100.73.

State Street Stock Down 0.9 %

NYSE STT opened at $98.74 on Friday. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The company has a market capitalization of $28.48 billion, a P/E ratio of 11.98, a PEG ratio of 1.11 and a beta of 1.43. The company’s 50 day simple moving average is $98.55 and its 200 day simple moving average is $92.79. 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 results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.04 earnings per share. Equities research analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio is 36.89%.

Insider Activity at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,020 shares of company stock worth $2,674,661 in the last quarter. 0.31% of the stock is owned by company insiders.

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.