Taika Capital LP Makes New Investment in State Street Co. (NYSE:STT)

Taika Capital LP acquired 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 Securities and Exchange Commission. The institutional investor acquired 3,925 shares of the asset manager’s stock, valued at approximately $385,000.

Other large investors have also recently bought and sold shares of the company. Albion Financial Group UT acquired a new position in State Street in the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd lifted 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 valued at $36,000 after buying an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in State Street in the fourth quarter valued at approximately $42,000. Coastline Trust Co acquired a new position in State Street in the third quarter valued at approximately $44,000. Finally, Friedenthal Financial acquired a new position in State Street in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Barclays boosted their price target on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Morgan Stanley reduced their target price on State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.20.

Insider Activity at State Street

In related news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction dated 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 sale, the director now owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

State Street Stock Down 0.1 %

Shares of State Street stock opened at $89.72 on Monday. The business’s 50 day simple moving average is $97.91 and its 200 day simple moving average is $94.11. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The firm has a market cap of $25.88 billion, a PE ratio of 10.89, a P/E/G ratio of 1.11 and a beta of 1.44. 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 (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter last year, the firm earned $2.04 EPS. State Street’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, analysts predict that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The business 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. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Tuesday, April 1st. 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.