Stevens Capital Management LP Invests $290,000 in State Street Co. (NYSE:STT)

Stevens Capital Management LP purchased a new stake in State Street Co. (NYSE:STT) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 2,959 shares of the asset manager’s stock, valued at approximately $290,000.

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

State Street Stock Performance

Shares of STT opened at $92.87 on Tuesday. The company has a market cap of $26.79 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The firm has a 50-day moving average of $95.90 and a 200-day moving average of $94.33. State Street Co. has a one year low of $70.20 and a one year high of $103.00. 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 (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $2.04 earnings per share. As a group, equities analysts forecast that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Insider Buying and Selling at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 in the company, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $1,081,500.00. Following the transaction, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company increased 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. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $101.87.

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.