Flagship Harbor Advisors LLC Acquires New Shares in State Street Co. (NYSE:STT)

Flagship Harbor Advisors LLC acquired a new stake in State Street Co. (NYSE:STT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,771 shares of the asset manager’s stock, valued at approximately $272,000.

A number of other large investors have also made changes to their positions in STT. Albion Financial Group UT bought a new stake in shares of State Street in the 4th quarter valued at $25,000. Coastline Trust Co acquired a new position in State Street in the 3rd quarter worth $44,000. Friedenthal Financial acquired a new position in State Street in the 4th quarter worth $49,000. Capital Performance Advisors LLP acquired a new position in State Street in the 3rd quarter worth $54,000. Finally, Versant Capital Management Inc boosted its stake 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 period. Institutional investors own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on STT. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. 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 research note on Friday, December 20th. 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. Barclays increased 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. Finally, StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $100.73.

Insider Buying and Selling at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

State Street Price Performance

Shares of NYSE STT opened at $100.90 on Thursday. State Street Co. has a twelve month low of $70.20 and a twelve month high of $102.63. The firm has a fifty day simple moving average of $98.20 and a 200 day simple moving average of $90.90. The company has a market capitalization of $29.58 billion, a PE ratio of 12.25, a P/E/G ratio of 1.11 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 1.03.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the firm posted $2.04 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts forecast that State Street Co. will post 9.43 EPS for the current year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is currently 36.89%.

State Street Company 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.