Commonwealth Equity Services LLC Purchases 2,213 Shares of State Street Co. (NYSE:STT)

Commonwealth Equity Services LLC grew its position in shares of State Street Co. (NYSE:STT) by 2.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 107,416 shares of the asset manager’s stock after buying an additional 2,213 shares during the quarter. Commonwealth Equity Services LLC’s holdings in State Street were worth $10,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Albion Financial Group UT acquired a new stake in shares of State Street during the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd boosted its holdings in shares of State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of State Street in the 4th quarter valued at $42,000. Friedenthal Financial bought a new position in shares of State Street in the 4th quarter valued at $49,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of State Street during the 4th quarter worth $56,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Transactions at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the sale, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of State Street 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 directly 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 disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

STT has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Barclays lifted their price target on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Finally, Morgan Stanley dropped their price target on State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $101.20.

State Street Stock Performance

Shares of STT stock opened at $90.33 on Thursday. The stock has a market capitalization of $26.06 billion, a PE ratio of 10.96, a PEG ratio of 1.11 and a beta of 1.44. The business’s 50 day simple moving average is $96.14 and its 200 day simple moving average is $94.16. 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 Co. has a one year low of $70.20 and a one year high of $103.00.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the firm posted $2.04 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, research analysts forecast that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is presently 36.89%.

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.