Godsey & Gibb Inc. Buys 8,592 Shares of State Street Co. (NYSE:STT)

Godsey & Gibb Inc. increased its stake in shares of State Street Co. (NYSE:STT) by 4.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 212,072 shares of the asset manager’s stock after acquiring an additional 8,592 shares during the period. Godsey & Gibb Inc.’s holdings in State Street were worth $18,987,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vest Financial LLC bought a new position in State Street in the 1st quarter valued at $8,715,000. AEGON ASSET MANAGEMENT UK Plc raised its position in State Street by 2.4% in the 1st quarter. AEGON ASSET MANAGEMENT UK Plc now owns 347,054 shares of the asset manager’s stock valued at $31,079,000 after purchasing an additional 8,093 shares during the last quarter. Whipplewood Advisors LLC raised its position in State Street by 3,431.8% in the 1st quarter. Whipplewood Advisors LLC now owns 22,003 shares of the asset manager’s stock valued at $1,970,000 after purchasing an additional 21,380 shares during the last quarter. Merit Financial Group LLC raised its position in State Street by 45.3% in the 1st quarter. Merit Financial Group LLC now owns 5,846 shares of the asset manager’s stock valued at $523,000 after purchasing an additional 1,822 shares during the last quarter. Finally, Czech National Bank raised its position in State Street by 4.2% in the 1st quarter. Czech National Bank now owns 66,256 shares of the asset manager’s stock valued at $5,932,000 after purchasing an additional 2,695 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the sale, the chief accounting officer now owns 7,354 shares in the company, valued at approximately $667,154.88. This represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wall Street Zen downgraded State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Wells Fargo & Company cut their price objective on State Street from $118.00 to $113.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. The Goldman Sachs Group set a $98.00 price objective on State Street and gave the company a “buy” rating in a research report on Thursday, April 17th. Cfra Research cut State Street from a “moderate buy” rating to a “hold” rating in a research note on Thursday, May 29th. Finally, Morgan Stanley set a $110.00 target price on State Street and gave the company an “overweight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, State Street presently has a consensus rating of “Hold” and a consensus price target of $102.54.

State Street Stock Performance

Shares of State Street stock opened at $98.63 on Friday. The firm has a market cap of $28.13 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 1.11 and a beta of 1.45. The stock’s 50-day moving average is $89.43 and its 200-day moving average is $94.04. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.06. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same period in the previous year, the company posted $1.69 earnings per share. Equities analysts predict that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 annualized dividend and a yield of 3.08%. State Street’s payout ratio is presently 34.12%.

State Street 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.