Kestra Investment Management LLC Invests $426,000 in State Street Co. (NYSE:STT)

Kestra Investment Management LLC acquired a new position in shares of State Street Co. (NYSE:STT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,340 shares of the asset manager’s stock, valued at approximately $426,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of STT. Flagship Harbor Advisors LLC acquired a new stake in shares of State Street during the fourth quarter valued at about $272,000. KBC Group NV increased its holdings in State Street by 20.5% in the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after purchasing an additional 12,707 shares during the last quarter. Merit Financial Group LLC purchased a new stake in State Street in the fourth quarter valued at approximately $395,000. Janney Montgomery Scott LLC lifted its stake in State Street by 11.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock worth $7,289,000 after purchasing an additional 7,446 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of State Street by 17.3% during the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock worth $12,124,000 after buying an additional 20,183 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the 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 approximately $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the business’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 completion of the transaction, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,020 shares of company stock valued at $2,674,661 in the last three months. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STT. Morgan Stanley decreased their target price 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. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Barclays upped their target price on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company upped their price objective on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, State Street presently has a consensus rating of “Hold” and an average price target of $100.73.

State Street Stock Performance

Shares of State Street stock opened at $99.82 on Thursday. 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 52 week low of $70.20 and a 52 week high of $103.00. The firm’s 50 day moving average is $98.60 and its two-hundred day moving average is $92.59. The firm has a market capitalization of $28.80 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT) last posted its 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. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same period last year, the firm posted $2.04 EPS. The company’s revenue was up 12.1% on a year-over-year basis. Research analysts forecast that State Street Co. will post 9.65 EPS for the current fiscal 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 issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s payout ratio is currently 36.89%.

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.