Y.D. More Investments Ltd Grows Stock Position in State Street Co. (NYSE:STT)

Y.D. More Investments Ltd increased its position in shares of State Street Co. (NYSE:STT) by 116.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 366 shares of the asset manager’s stock after buying an additional 197 shares during the quarter. Y.D. More Investments Ltd’s holdings in State Street were worth $36,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC acquired a new position in shares of State Street in the 4th quarter worth approximately $272,000. KBC Group NV raised its position in State Street by 20.5% in the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after purchasing an additional 12,707 shares during the period. Janney Montgomery Scott LLC lifted its stake in State Street by 11.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock worth $7,289,000 after purchasing an additional 7,446 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of State Street during the fourth quarter worth $395,000. Finally, Asset Management One Co. Ltd. grew its stake in shares of State Street by 17.3% in the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after buying an additional 20,183 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on STT. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a research note on Friday, December 20th. Barclays increased their price target on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. Finally, Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $100.73.

State Street Price Performance

Shares of NYSE STT opened at $99.51 on Friday. The stock’s 50-day simple moving average is $98.50 and its 200-day simple moving average is $91.54. The firm has a market capitalization of $29.17 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.14 and a beta of 1.43. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. 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 released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter last year, the company earned $2.04 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities research analysts forecast that State Street Co. will post 9.6 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a $0.76 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.06%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

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.