Whipplewood Advisors LLC Invests $61,000 in State Street Co. (NYSE:STT)

Whipplewood Advisors LLC bought a new position in State Street Co. (NYSE:STT) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 623 shares of the asset manager’s stock, valued at approximately $61,000.

Several other large investors have also recently modified their holdings of STT. International Assets Investment Management LLC increased its stake in shares of State Street by 15,129.6% in the third quarter. International Assets Investment Management LLC now owns 32,439 shares of the asset manager’s stock worth $2,870,000 after purchasing an additional 32,226 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in State Street by 9.8% during the third quarter. Assenagon Asset Management S.A. now owns 10,661 shares of the asset manager’s stock valued at $943,000 after acquiring an additional 954 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in State Street by 17.0% during the third quarter. First Trust Direct Indexing L.P. now owns 10,757 shares of the asset manager’s stock valued at $952,000 after acquiring an additional 1,566 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in State Street by 13.0% during the third quarter. Pinnacle Associates Ltd. now owns 6,122 shares of the asset manager’s stock valued at $542,000 after acquiring an additional 704 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in State Street by 95.0% during the third quarter. Farther Finance Advisors LLC now owns 3,399 shares of the asset manager’s stock valued at $301,000 after acquiring an additional 1,656 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

STT has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised 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 research note on Tuesday, December 3rd. Truist Financial reduced their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Barclays boosted their price objective on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $103.00 target price (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $100.73.

State Street Price Performance

Shares of State Street stock opened at $99.45 on Friday. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The stock has a market capitalization of $28.69 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The company has a fifty day moving average of $98.59 and a 200-day moving average of $93.51. 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 quarterly earnings data 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 net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the prior year, the company earned $2.04 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. Equities research analysts expect that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.06%. State Street’s dividend payout ratio (DPR) is 36.89%.

Insider Activity

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now owns 100,023 shares of the company’s stock, valued at $10,002,300. This represents a 9.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

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.