Aaron Wealth Advisors LLC Buys New Shares in State Street Co. (NYSE:STT)

Aaron Wealth Advisors LLC purchased a new position in shares of State Street Co. (NYSE:STT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,420 shares of the asset manager’s stock, valued at approximately $238,000.

Other institutional investors have also recently made changes to their positions in the company. HB Wealth Management LLC increased its holdings in shares of State Street by 7.9% during the 4th quarter. HB Wealth Management LLC now owns 5,481 shares of the asset manager’s stock valued at $538,000 after purchasing an additional 401 shares in the last quarter. Trust Co. of Vermont raised its holdings in shares of State Street by 190.6% during the fourth quarter. Trust Co. of Vermont now owns 1,889 shares of the asset manager’s stock valued at $185,000 after acquiring an additional 1,239 shares during the last quarter. Verity & Verity LLC lifted its holdings in State Street by 4.9% in the 4th quarter. Verity & Verity LLC now owns 251,581 shares of the asset manager’s stock valued at $24,693,000 after purchasing an additional 11,784 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of State Street in the fourth quarter worth about $395,000. Finally, Avanza Fonder AB purchased a new position in State Street in the 4th quarter worth approximately $2,041,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Up 1.3 %

STT stock opened at $98.93 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $29.00 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.07 and a beta of 1.43. State Street Co. has a 12 month low of $70.20 and a 12 month high of $101.91. The company has a fifty day moving average price of $97.74 and a 200 day moving average price of $89.90.

State Street (NYSE:STT) last released 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. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3,267,560 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.04 earnings per share. Sell-side analysts expect that State Street Co. will post 9.55 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 paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is 36.89%.

Insider Buying and Selling at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction on 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 transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

STT has been the topic of several analyst reports. Barclays lifted their price target on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. The Goldman Sachs Group raised their price target on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. upgraded shares of 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. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Finally, Truist Financial lowered their price target on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $100.20.

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.