Friedenthal Financial Buys Shares of 504 State Street Co. (NYSE:STT)

Friedenthal Financial purchased a new position in shares of State Street Co. (NYSE:STT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 504 shares of the asset manager’s stock, valued at approximately $49,000.

A number of other large investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in State Street in the 2nd quarter worth about $27,000. Coastline Trust Co acquired a new position in shares of State Street during the third quarter worth approximately $44,000. Capital Performance Advisors LLP bought a new position in State Street in the 3rd quarter worth approximately $54,000. Versant Capital Management Inc increased its position in State Street by 37.0% in the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock valued at $72,000 after acquiring an additional 197 shares during the period. Finally, Tobam bought a new stake in State Street during the 3rd quarter valued at $77,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on STT shares. Morgan Stanley decreased their price target 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. Truist Financial initiated coverage on shares of State Street in a research note on Tuesday, January 7th. They set a “hold” rating and a $106.00 target price on the stock. The Goldman Sachs Group upped their price target on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Barclays raised their price objective on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $100.33.

Insider Activity

In other State Street news, EVP John Plansky sold 13,859 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the completion of the sale, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. This represents a 20.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the executive vice president now 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 disclosure for this sale can be found here. Insiders sold 26,460 shares of company stock worth $2,499,860 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

State Street Trading Up 0.6 %

Shares of STT opened at $94.46 on Tuesday. The business’s 50-day moving average price is $97.46 and its 200 day moving average price is $89.05. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $27.69 billion, a P/E ratio of 14.92, a P/E/G ratio of 1.24 and a beta of 1.43. State Street Co. has a 1-year low of $70.20 and a 1-year high of $101.91.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the previous year, the business earned $1.93 earnings per share. The firm’s revenue was up 21.1% compared to the same quarter last year. Analysts expect that State Street Co. will post 8.42 earnings per share for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is currently 48.03%.

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.