Planned Solutions Inc. Invests $107,000 in State Street Co. (NYSE:STT)

Planned Solutions Inc. acquired a new stake in State Street Co. (NYSE:STT) in the fourth quarter, HoldingsChannel reports. The firm acquired 1,375 shares of the asset manager’s stock, valued at approximately $107,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in State Street by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 34,410,077 shares of the asset manager’s stock worth $2,997,806,000 after purchasing an additional 146,048 shares during the last quarter. Invesco Ltd. boosted its position in shares of State Street by 0.3% during the 3rd quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock valued at $698,663,000 after purchasing an additional 29,190 shares in the last quarter. Morgan Stanley grew its stake in State Street by 31.1% during the fourth quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock worth $467,876,000 after purchasing an additional 1,430,237 shares during the period. JPMorgan Chase & Co. increased its holdings in State Street by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 4,935,279 shares of the asset manager’s stock worth $373,551,000 after purchasing an additional 469,309 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in State Street by 4.1% in the third quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock valued at $309,677,000 after buying an additional 180,093 shares during the period. 87.44% of the stock is owned by institutional investors.

State Street Stock Up 0.9 %

Shares of NYSE:STT opened at $76.88 on Thursday. The firm has a fifty day moving average price of $73.42 and a two-hundred day moving average price of $71.68. The company has a market cap of $23.21 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.33 and a beta of 1.52. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.55 and a quick ratio of 0.55. State Street Co. has a one year low of $62.78 and a one year high of $81.37.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, topping the consensus estimate of $1.83 by $0.21. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.95 billion. State Street had a return on equity of 11.86% and a net margin of 10.59%. State Street’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.07 earnings per share. Analysts anticipate that State Street Co. will post 7.83 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Monday, April 1st will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Thursday, March 28th. State Street’s payout ratio is currently 50.27%.

Insider Transactions at State Street

In other news, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at $1,294,801. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other State Street news, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the transaction, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,864 shares of company stock worth $1,390,597. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on STT shares. Wells Fargo & Company reiterated an “overweight” rating and set a $83.00 target price on shares of State Street in a research report on Wednesday, December 6th. UBS Group upped their target price on State Street from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Royal Bank of Canada increased their price objective on State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. The Goldman Sachs Group raised shares of State Street from a “neutral” rating to a “buy” rating and raised their price target for the company from $69.00 to $92.00 in a research report on Wednesday, January 3rd. Finally, Keefe, Bruyette & Woods decreased their target price on State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, State Street has a consensus rating of “Hold” and a consensus price target of $81.83.

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.