Tower Bridge Advisors Purchases New Holdings in State Street Co. (NYSE:STT)

Tower Bridge Advisors purchased a new position in shares of State Street Co. (NYSE:STT) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,375 shares of the asset manager’s stock, valued at approximately $233,000.

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

Insider Transactions at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction 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 transaction, the executive vice president now 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction 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 of the company’s stock, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on STT shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $103.00 target price (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Barclays boosted their target price 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. Morgan Stanley lowered 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 report on Friday, January 3rd. Finally, JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $100.73.

State Street Trading Up 2.0 %

Shares of State Street stock opened at $99.45 on Friday. The firm has a market capitalization of $28.69 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm’s 50 day moving average is $98.59 and its 200 day moving average is $93.51. 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 the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the prior year, the business earned $2.04 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

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 paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s payout ratio is 36.89%.

State Street 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.