2,636 Shares in State Street Co. (NYSE:STT) Acquired by Davidson Trust Co.

Davidson Trust Co. bought a new stake in State Street Co. (NYSE:STT) during the fourth quarter, Holdings Channel.com reports. The fund bought 2,636 shares of the asset manager’s stock, valued at approximately $204,000.

A number of other hedge funds also recently made changes to their positions in STT. CVA Family Office LLC bought a new position in shares of State Street during the 4th quarter valued at about $27,000. Venturi Wealth Management LLC lifted its position in State Street by 92.5% in the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after buying an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in State Street in the fourth quarter worth approximately $35,000. Covestor Ltd grew its position in State Street by 69.2% during the first quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 234 shares during the last quarter. Finally, State of Wyoming grew its position in State Street by 51.3% during the second quarter. State of Wyoming now owns 619 shares of the asset manager’s stock valued at $45,000 after acquiring an additional 210 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

State Street Price Performance

Shares of STT stock traded up $0.15 on Friday, reaching $73.19. The company’s stock had a trading volume of 660,828 shares, compared to its average volume of 2,260,909. The stock’s fifty day simple moving average is $73.99 and its 200-day simple moving average is $72.37. State Street Co. has a 1 year low of $62.78 and a 1 year high of $79.90. The company has a market capitalization of $22.10 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90.

State Street (NYSE:STT) last announced its earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the firm posted $2.07 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. Analysts forecast that State Street Co. will post 7.91 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were paid a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a yield of 3.77%. State Street’s dividend payout ratio is currently 51.69%.

Insider Transactions at State Street

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction dated Friday, February 16th. The shares were 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 in the company, valued at approximately $1,294,801. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Anthony Bisegna sold 2,606 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the transaction, the executive vice president now owns 17,737 shares in the company, valued at approximately $1,294,801. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,864 shares of company stock valued at $1,390,597. 0.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on STT. Keefe, Bruyette & Woods cut their price objective on shares of State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Royal Bank of Canada upped their price target on shares of State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. JPMorgan Chase & Co. lifted their price objective on State Street from $79.50 to $80.50 in a report on Friday, April 12th. Argus boosted their target price on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday. Finally, UBS Group increased their target price on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $84.04.

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.