Longbow Finance SA Makes New Investment in State Street Co. (NYSE:STT)

Longbow Finance SA purchased a new position in shares of State Street Co. (NYSE:STT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 91,316 shares of the asset manager’s stock, valued at approximately $8,963,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Albion Financial Group UT purchased a new stake in shares of State Street during the 4th quarter worth about $25,000. Y.D. More Investments Ltd boosted its stake in shares of State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares in the last quarter. Coastline Trust Co purchased a new stake in shares of State Street during the 3rd quarter worth about $44,000. Friedenthal Financial purchased a new stake in shares of State Street during the 4th quarter worth about $49,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of State Street during the 3rd quarter worth about $54,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at State Street

In related news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value 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 trade represents a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

State Street Stock Down 0.1 %

Shares of NYSE STT opened at $98.56 on Tuesday. The company has a 50 day simple moving average of $98.50 and a 200-day simple moving average of $93.16. The company has a market capitalization of $28.43 billion, a P/E ratio of 11.96, a P/E/G ratio of 1.11 and a beta of 1.43. 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 Co. has a 1 year low of $70.20 and a 1 year high of $103.00.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.04 EPS. On average, equities research analysts predict that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.08%. State Street’s dividend payout ratio is currently 36.89%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on STT shares. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Wells Fargo & Company raised their price target on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 price target (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Morgan Stanley decreased their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Finally, StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.