Planned Solutions Inc. Invests $107,000 in State Street Co. (NYSE:STT)

Planned Solutions Inc. acquired a new position in shares of State Street Co. (NYSE:STT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,375 shares of the asset manager’s stock, valued at approximately $107,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new stake in shares of State Street in the fourth quarter valued at approximately $27,000. Covestor Ltd lifted its position in shares of State Street by 69.2% in the first quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 234 shares in the last quarter. State of Wyoming increased its position in State Street by 51.3% during the 2nd quarter. State of Wyoming now owns 619 shares of the asset manager’s stock worth $45,000 after purchasing an additional 210 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in State Street in the 4th quarter valued at about $51,000. Finally, IFP Advisors Inc grew its holdings in shares of State Street by 24.9% during the second quarter. IFP Advisors Inc now owns 733 shares of the asset manager’s stock worth $54,000 after buying an additional 146 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Trading Up 0.9 %

NYSE STT opened at $76.88 on Thursday. State Street Co. has a 52 week low of $62.78 and a 52 week high of $81.37. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.86. The stock has a market cap of $23.21 billion, a P/E ratio of 14.00, a PEG ratio of 1.33 and a beta of 1.52. The company’s fifty day simple moving average is $73.42 and its 200-day simple moving average is $71.68.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. State Street had a return on equity of 11.86% and a net margin of 10.59%. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the business posted $2.07 earnings per share. State Street’s revenue for the quarter was down 3.5% on a year-over-year basis. Equities research analysts predict that State Street Co. will post 7.83 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Monday, April 1st will be paid a $0.69 dividend. The ex-dividend date is Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.59%. State Street’s dividend payout ratio (DPR) is presently 50.27%.

Insider Buying and Selling at State Street

In other news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the transaction, the executive vice president now owns 17,737 shares of the company’s stock, valued at $1,294,801. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Eric W. Aboaf sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the transaction, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the sale, the executive vice president now directly owns 17,737 shares in the company, valued at approximately $1,294,801. The disclosure for this sale can be found here. Insiders have sold 18,864 shares of company stock worth $1,390,597 in the last ninety days. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on STT. The Goldman Sachs Group upgraded State Street from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $69.00 to $92.00 in a report on Wednesday, January 3rd. Morgan Stanley increased their price objective on shares of State Street from $83.00 to $88.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Bank of America reaffirmed an “underperform” rating and set a $81.00 price target on shares of State Street in a research note on Thursday, January 4th. UBS Group lifted their target price on State Street from $70.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods cut their price objective on State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $81.83.

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.