State Street Co. (NYSE:STT) Shares Bought by Venturi Wealth Management LLC

Venturi Wealth Management LLC lifted its position in shares of State Street Co. (NYSE:STT) by 60.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,114 shares of the asset manager’s stock after buying an additional 418 shares during the quarter. Venturi Wealth Management LLC’s holdings in State Street were worth $109,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Adero Partners LLC grew its holdings in State Street by 3.6% in the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock valued at $285,000 after buying an additional 100 shares during the period. Peapack Gladstone Financial Corp boosted its position in shares of State Street by 2.0% in the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock worth $467,000 after acquiring an additional 103 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in State Street by 1.4% in the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock valued at $986,000 after purchasing an additional 138 shares during the period. Empirical Finance LLC raised its stake in State Street by 1.4% during the third quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock worth $997,000 after purchasing an additional 158 shares during the period. Finally, ST Germain D J Co. Inc. boosted its holdings in shares of State Street by 6.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 2,869 shares of the asset manager’s stock valued at $282,000 after purchasing an additional 180 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Performance

Shares of STT stock opened at $98.74 on Monday. 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 company’s fifty day moving average price is $98.55 and its two-hundred day moving average price is $93.02. The firm has a market capitalization of $28.48 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.11 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 released its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the firm posted $2.04 earnings per share. The company’s revenue was up 12.1% compared to the same quarter last year. On average, research analysts anticipate that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is currently 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, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on STT shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 price objective (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Truist Financial cut their price objective on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Barclays boosted their target price on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and raised their price target for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. 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 analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, State Street currently has an average rating of “Hold” and a consensus price target of $100.73.

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.