Bradley Foster & Sargent Inc. CT Increases Stock Position in State Street Co. (NYSE:STT)

Bradley Foster & Sargent Inc. CT lifted its holdings in shares of State Street Co. (NYSE:STTFree Report) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,604 shares of the asset manager’s stock after purchasing an additional 501 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in State Street were worth $4,083,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Paradigm Asset Management Co. LLC purchased a new position in State Street during the fourth quarter worth $1,040,000. ING Groep NV purchased a new stake in State Street during the 4th quarter worth about $1,300,000. Boston Financial Mangement LLC acquired a new position in State Street in the 4th quarter valued at about $250,000. Handelsbanken Fonder AB lifted its holdings in State Street by 4.2% in the 4th quarter. Handelsbanken Fonder AB now owns 106,777 shares of the asset manager’s stock valued at $10,480,000 after purchasing an additional 4,344 shares in the last quarter. Finally, Ieq Capital LLC boosted its stake in shares of State Street by 95.9% during the 4th quarter. Ieq Capital LLC now owns 15,583 shares of the asset manager’s stock worth $1,529,000 after purchasing an additional 7,628 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at State Street

In related news, 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 sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the transaction, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,020 shares of company stock valued at $2,674,661 over the last quarter. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on STT. Truist Financial cut 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 report on Tuesday, January 21st. Morgan Stanley cut their price target on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Finally, Wolfe Research upgraded 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 given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, State Street has a consensus rating of “Hold” and a consensus price target of $100.73.

Get Our Latest Stock Analysis on State Street

State Street Trading Down 0.9 %

NYSE STT opened at $98.74 on Friday. The firm has a market capitalization of $28.48 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 1.11 and a beta of 1.43. 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 one year low of $70.20 and a one year high of $103.00. The company’s 50 day moving average price is $98.55 and its 200 day moving average price is $92.79.

State Street (NYSE:STTGet Free Report) last issued its earnings results 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 business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the firm posted $2.04 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, sell-side analysts predict that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

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 paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio is presently 36.89%.

State Street Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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