Davis R M Inc. Takes $212,000 Position in State Street Co. (NYSE:STT)

Davis R M Inc. bought a new stake in shares of State Street Co. (NYSE:STT) in the fourth quarter, Holdings Channel.com reports. The fund bought 2,160 shares of the asset manager’s stock, valued at approximately $212,000.

A number of other large investors have also recently made changes to their positions in STT. Albion Financial Group UT purchased a new stake in shares of State Street during the fourth quarter valued at $25,000. Y.D. More Investments Ltd boosted its stake in shares of State Street by 116.6% during the fourth 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 period. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of State Street during the fourth quarter valued at $42,000. Coastline Trust Co purchased a new stake in shares of State Street during the third quarter valued at $44,000. Finally, Friedenthal Financial purchased a new stake in State Street in the fourth quarter worth about $49,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial lowered their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research note on Friday, December 20th. Barclays upped their price objective 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. Morgan Stanley lowered their price objective on shares of State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $101.20.

State Street Stock Performance

STT opened at $85.76 on Thursday. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market cap of $24.74 billion, a P/E ratio of 10.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The firm’s 50-day moving average price is $97.18 and its 200-day moving average price is $94.09.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the prior year, the company posted $2.04 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities analysts anticipate that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.54%. State Street’s dividend payout ratio is currently 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.