Kohmann Bosshard Financial Services LLC Purchases New Position in State Street Co. (NYSE:STT)

Kohmann Bosshard Financial Services LLC purchased a new stake in shares of State Street Co. (NYSE:STT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 423 shares of the asset manager’s stock, valued at approximately $42,000.

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

State Street Stock Down 2.4 %

STT opened at $96.86 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The firm’s fifty day moving average is $98.56 and its 200 day moving average is $93.83. The stock has a market cap of $27.94 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share 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 company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the company earned $2.04 EPS. State Street’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, sell-side 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 announced a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 3.14%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is 36.89%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Morgan Stanley dropped their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Truist Financial dropped their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Finally, Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. One 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.73.

Insider Activity at State Street

In other State Street 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 value of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction on 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 disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

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.