SPC Financial Inc. Grows Stock Position in State Street Co. (NYSE:STT)

SPC Financial Inc. increased its holdings in shares of State Street Co. (NYSE:STT) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,000 shares of the asset manager’s stock after buying an additional 300 shares during the quarter. SPC Financial Inc.’s holdings in State Street were worth $491,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in STT. Farther Finance Advisors LLC lifted its position in State Street by 95.0% during the third quarter. Farther Finance Advisors LLC now owns 3,399 shares of the asset manager’s stock worth $301,000 after buying an additional 1,656 shares during the period. Janney Montgomery Scott LLC lifted its position in State Street by 2.6% during the third quarter. Janney Montgomery Scott LLC now owns 66,822 shares of the asset manager’s stock worth $5,912,000 after buying an additional 1,682 shares during the period. Van ECK Associates Corp lifted its position in State Street by 1.8% during the third quarter. Van ECK Associates Corp now owns 86,131 shares of the asset manager’s stock worth $7,874,000 after buying an additional 1,543 shares during the period. National Pension Service lifted its position in State Street by 10.9% during the third quarter. National Pension Service now owns 530,724 shares of the asset manager’s stock worth $46,953,000 after buying an additional 51,998 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in State Street by 17.3% during the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock worth $12,124,000 after acquiring an additional 20,183 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Price Performance

Shares of NYSE STT opened at $92.63 on Thursday. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The business has a 50 day moving average price of $98.28 and a two-hundred day moving average price of $93.89. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a market cap of $26.72 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44.

State Street (NYSE:STT) last issued 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. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same quarter last year, the firm earned $2.04 EPS. State Street’s quarterly revenue was up 12.1% on a year-over-year basis. Sell-side analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.76 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.28%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Insider Buying and Selling at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the transaction, the director now owns 100,023 shares of the company’s stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

STT has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Barclays upped their price target on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley dropped their price target on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $100.73.

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.