BostonPremier Wealth LLC Invests $283,000 in State Street Co. (NYSE:STT)

BostonPremier Wealth LLC acquired a new position in shares of State Street Co. (NYSE:STT) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,882 shares of the asset manager’s stock, valued at approximately $283,000.

Several other institutional investors have also recently modified their holdings of the stock. Ferguson Wellman Capital Management Inc. raised its position in shares of State Street by 3.6% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 1,064,840 shares of the asset manager’s stock worth $104,514,000 after purchasing an additional 36,691 shares during the last quarter. Savant Capital LLC grew its stake in shares of State Street by 1.1% during the 4th quarter. Savant Capital LLC now owns 28,172 shares of the asset manager’s stock valued at $2,765,000 after buying an additional 310 shares during the period. Kestra Private Wealth Services LLC grew its stake in shares of State Street by 49.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,704 shares of the asset manager’s stock valued at $462,000 after buying an additional 1,561 shares during the period. Howland Capital Management LLC purchased a new stake in shares of State Street during the 4th quarter valued at $439,000. Finally, Entropy Technologies LP purchased a new stake in shares of State Street during the 4th quarter valued at $1,827,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on STT shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 price target (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Barclays upped their price objective on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company upped their target price on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. Truist Financial cut their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Finally, Morgan Stanley dropped their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $100.73.

Insider Activity at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.31% of the stock is owned by insiders.

State Street Trading Down 1.4 %

State Street stock opened at $98.03 on Tuesday. The firm has a 50 day simple moving average of $98.53 and a 200-day simple moving average of $91.82. 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 stock has a market capitalization of $28.74 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00.

State Street (NYSE:STT) last issued its earnings results 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. The firm 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% compared to the same quarter last year. During the same period last year, the firm posted $2.04 earnings per share. As a group, equities research analysts expect that State Street Co. will post 9.6 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s payout ratio is 36.89%.

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.