Boston Financial Mangement LLC Purchases Shares of 2,546 State Street Co. (NYSE:STT)

Boston Financial Mangement LLC acquired a new position in shares of State Street Co. (NYSE:STT) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,546 shares of the asset manager’s stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds have also made changes to their positions in STT. Creative Planning increased its holdings in shares of State Street by 13.4% during the 3rd quarter. Creative Planning now owns 20,870 shares of the asset manager’s stock worth $1,846,000 after buying an additional 2,470 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of State Street by 55.6% during the 3rd quarter. Blue Trust Inc. now owns 4,452 shares of the asset manager’s stock worth $394,000 after buying an additional 1,591 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of State Street by 17.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,545 shares of the asset manager’s stock worth $314,000 after buying an additional 529 shares during the last quarter. Waldron Private Wealth LLC acquired a new stake in shares of State Street during the 3rd quarter worth $102,000. Finally, International Assets Investment Management LLC increased its holdings in shares of State Street by 15,129.6% during the 3rd quarter. International Assets Investment Management LLC now owns 32,439 shares of the asset manager’s stock worth $2,870,000 after buying an additional 32,226 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Stock Performance

NYSE:STT opened at $99.63 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a 50-day moving average of $98.58 and a two-hundred day moving average of $92.64. The stock has a market cap of $28.74 billion, a P/E ratio of 12.09, a PEG ratio of 1.12 and a beta of 1.43. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating 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 revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.04 EPS. On average, research analysts expect that State Street Co. will post 9.65 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.05%. State Street’s payout ratio is 36.89%.

Insider Transactions at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the transaction, the executive vice president now directly owns 111,042 shares in the company, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,020 shares of company stock valued at $2,674,661. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on STT. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a report on Friday, December 20th. Truist Financial lowered their price target on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 price target (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $100.73.

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.