D.A. Davidson & CO. Buys 2,225 Shares of State Street Co. (NYSE:STT)

D.A. Davidson & CO. grew its stake in State Street Co. (NYSE:STT) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,444 shares of the asset manager’s stock after acquiring an additional 2,225 shares during the quarter. D.A. Davidson & CO.’s holdings in State Street were worth $9,252,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. CVA Family Office LLC bought a new stake in State Street during the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC increased its stake in State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after purchasing an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in State Street during the 4th quarter worth approximately $35,000. Bruce G. Allen Investments LLC bought a new stake in State Street during the 4th quarter worth approximately $51,000. Finally, GAMMA Investing LLC acquired a new position in State Street during the 4th quarter worth approximately $75,000. 87.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. UBS Group upped their price target on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. upped their price target on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Argus upped their price target on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Evercore ISI upped their price target on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Morgan Stanley increased their price objective on State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $84.04.

State Street Stock Down 0.4 %

STT stock opened at $76.78 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.61. The stock has a market capitalization of $23.13 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.32 and a beta of 1.51. The business’s fifty day moving average price is $75.09 and its two-hundred day moving average price is $74.09. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.21. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.06 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. On average, equities analysts anticipate that State Street Co. will post 7.95 earnings per share for the current year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Monday, July 1st will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, July 1st. State Street’s payout ratio is currently 51.69%.

Insider Buying and Selling

In related news, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the transaction, the chief financial officer now owns 149,063 shares in the company, valued at $11,015,755.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the transaction, the chief financial officer now owns 149,063 shares in the company, valued at $11,015,755.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony Bisegna sold 4,258 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $73.64, for a total value of $313,559.12. Following the completion of the sale, the executive vice president now directly owns 23,328 shares in the company, valued at $1,717,873.92. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

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.