State Street Co. (NYSE:STT) Stake Boosted by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lifted its stake in shares of State Street Co. (NYSE:STT) by 7.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,650 shares of the asset manager’s stock after purchasing an additional 257 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in State Street were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Coastline Trust Co bought a new stake in State Street in the third quarter valued at $44,000. Friedenthal Financial bought a new stake in State Street in the 4th quarter valued at about $49,000. Capital Performance Advisors LLP acquired a new position in State Street during the 3rd quarter valued at about $54,000. Versant Capital Management Inc grew its position in State Street by 37.0% in the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock worth $72,000 after purchasing an additional 197 shares during the last quarter. Finally, Tobam acquired a new stake in shares of State Street in the third quarter valued at approximately $77,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Down 3.0 %

Shares of State Street stock opened at $97.51 on Friday. State Street Co. has a 12-month low of $70.20 and a 12-month high of $101.91. The firm has a market capitalization of $28.58 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.43. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock’s fifty day moving average is $97.67 and its 200-day moving average is $89.35.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3,267,560 billion. During the same period in the prior year, the firm earned $2.04 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts anticipate that State Street Co. will post 8.45 earnings per share for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a $0.76 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.12%. State Street’s payout ratio is currently 48.03%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. 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. Wells Fargo & Company increased their price target on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. Morgan Stanley cut their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and increased their target price for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Finally, Evercore ISI raised their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $100.33.

Insider Transactions at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.31% of the stock is currently owned by insiders.

About State Street

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.