DMKC Advisory Services LLC Buys New Position in State Street Co. (NYSE:STT)

DMKC Advisory Services LLC purchased a new position in State Street Co. (NYSE:STT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,180 shares of the asset manager’s stock, valued at approximately $2,079,000. State Street makes up approximately 1.9% of DMKC Advisory Services LLC’s portfolio, making the stock its 17th biggest position.

Other large investors have also modified their holdings of the company. Longbow Finance SA purchased a new position in shares of State Street in the 4th quarter valued at approximately $8,963,000. Ascent Wealth Partners LLC acquired a new position in State Street during the 4th quarter valued at approximately $406,000. MONECO Advisors LLC purchased a new position in shares of State Street in the fourth quarter worth $1,740,000. Hudson Edge Investment Partners Inc. lifted its stake in shares of State Street by 1.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 75,960 shares of the asset manager’s stock worth $7,455,000 after buying an additional 1,380 shares during the period. Finally, Bradley Foster & Sargent Inc. CT grew its holdings in shares of State Street by 1.2% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 41,604 shares of the asset manager’s stock valued at $4,083,000 after buying an additional 501 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Down 1.4 %

STT opened at $97.21 on Wednesday. The company has a fifty day moving average of $98.47 and a two-hundred day moving average of $93.30. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The stock has a market capitalization of $28.04 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT) last released its quarterly 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. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the prior year, the firm posted $2.04 EPS. State Street’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, research analysts expect that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.13%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is 36.89%.

Insider Buying and Selling

In other news, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on STT. Wells Fargo & Company raised their target price on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Morgan Stanley dropped their target price on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Finally, Truist Financial decreased their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, State Street has a consensus rating of “Hold” and an average target price 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.