DMKC Advisory Services LLC Acquires Shares of 21,180 State Street Co. (NYSE:STT)

DMKC Advisory Services LLC acquired a new stake in shares of State Street Co. (NYSE:STT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,180 shares of the asset manager’s stock, valued at approximately $2,079,000. State Street makes up 1.9% of DMKC Advisory Services LLC’s investment portfolio, making the stock its 17th largest holding.

Other large investors have also recently made changes to their positions in the company. Longbow Finance SA bought a new stake in State Street in the 4th quarter worth approximately $8,963,000. Ascent Wealth Partners LLC purchased a new stake in State Street during the fourth quarter valued at $406,000. MONECO Advisors LLC bought a new position in State Street during the fourth quarter valued at $1,740,000. Hudson Edge Investment Partners Inc. grew its stake in shares of State Street by 1.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 75,960 shares of the asset manager’s stock worth $7,455,000 after buying an additional 1,380 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT increased its holdings in shares of State Street by 1.2% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 41,604 shares of the asset manager’s stock worth $4,083,000 after buying an additional 501 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Insider Activity at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

State Street Trading Down 1.4 %

STT opened at $97.21 on Wednesday. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The company has a market capitalization of $28.04 billion, a P/E ratio of 11.80, a PEG ratio of 1.11 and a beta of 1.43. The stock’s fifty day moving average is $98.47 and its two-hundred day moving average is $93.30. 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 (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the company posted $2.04 earnings per share. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. Analysts forecast that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid 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 dividend yield of 3.13%. State Street’s dividend payout ratio is presently 36.89%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on STT. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Morgan Stanley cut 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. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft reaffirmed 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. Finally, Barclays boosted their price objective on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, State Street currently has an average rating of “Hold” and an average price target 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.