Jackson Creek Investment Advisors LLC Increases Position in State Street Co. (NYSE:STT)

Jackson Creek Investment Advisors LLC raised its position in State Street Co. (NYSE:STT) by 10.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,719 shares of the asset manager’s stock after purchasing an additional 435 shares during the period. Jackson Creek Investment Advisors LLC’s holdings in State Street were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Albion Financial Group UT purchased a new position in shares of State Street in the 4th quarter valued at $25,000. Y.D. More Investments Ltd grew its position in shares of State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after buying an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of State Street in the 4th quarter valued at $42,000. Coastline Trust Co purchased a new position in State Street during the 3rd quarter worth $44,000. Finally, Friedenthal Financial purchased a new position in State Street during the 4th quarter worth $49,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STT has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research report on Thursday. Barclays raised their target price on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research note on Friday, December 20th. Finally, Truist Financial reduced their target price 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $101.20.

Insiders Place Their Bets

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

State Street Stock Down 0.1 %

Shares of NYSE STT opened at $89.72 on Friday. 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 Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The firm has a 50-day moving average price of $97.91 and a 200 day moving average price of $94.02. The stock has a market capitalization of $25.88 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.04 earnings per share. Equities research analysts anticipate that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s payout ratio 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.