Aries Wealth Management bought a new stake in shares of State Street Corp (NYSE:STT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,886 shares of the asset manager’s stock, valued at approximately $849,000.
Several other large investors have also recently bought and sold shares of STT. Zions Bancorporation boosted its stake in State Street by 318.0% during the 3rd quarter. Zions Bancorporation now owns 1,045 shares of the asset manager’s stock worth $100,000 after purchasing an additional 795 shares during the last quarter. Legacy Advisors LLC boosted its position in shares of State Street by 835.8% during the 4th quarter. Legacy Advisors LLC now owns 1,151 shares of the asset manager’s stock valued at $112,000 after acquiring an additional 1,028 shares during the last quarter. Sabal Trust CO purchased a new stake in State Street in the 3rd quarter valued at about $201,000. BB&T Corp purchased a new stake in State Street in the 4th quarter valued at about $203,000. Finally, Trustmark National Bank Trust Department purchased a new stake in State Street in the 3rd quarter valued at about $204,000. 88.46% of the stock is owned by hedge funds and other institutional investors.
State Street Corp (NYSE:STT) opened at $101.27 on Wednesday. State Street Corp has a 52-week low of $75.27 and a 52-week high of $114.27. The firm has a market capitalization of $37,419.41, a price-to-earnings ratio of 15.85, a PEG ratio of 1.69 and a beta of 1.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.49 and a quick ratio of 0.48.
State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.10). The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.98 billion. State Street had a net margin of 17.94% and a return on equity of 13.41%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.48 EPS. sell-side analysts forecast that State Street Corp will post 7.51 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 17th. Investors of record on Tuesday, January 2nd were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, December 29th. State Street’s payout ratio is currently 32.12%.
In related news, insider Andrew Erickson sold 354 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $92.00, for a total transaction of $32,568.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.71% of the stock is owned by company insiders.
STT has been the topic of several research analyst reports. ValuEngine upgraded shares of State Street from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised State Street from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a research report on Thursday, January 25th. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research report on Tuesday, December 12th. Bank of America upped their price target on State Street from $108.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Finally, Morgan Stanley upped their price target on State Street from $90.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. State Street currently has an average rating of “Buy” and a consensus target price of $106.69.
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State Street Company Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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