Ascent Wealth Partners LLC Makes New $406,000 Investment in State Street Co. (NYSE:STT)

Ascent Wealth Partners LLC acquired a new stake in State Street Co. (NYSE:STT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,137 shares of the asset manager’s stock, valued at approximately $406,000.

A number of other large investors also recently modified their holdings of STT. Albion Financial Group UT purchased a new stake in shares of State Street in the 4th quarter valued at approximately $25,000. Y.D. More Investments Ltd increased its position 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 during the last quarter. Coastline Trust Co purchased a new stake in shares of State Street in the 3rd quarter valued at approximately $44,000. Friedenthal Financial purchased a new stake in shares of State Street in the 4th quarter valued at approximately $49,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of State Street in the 3rd quarter valued at approximately $54,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Stock Down 0.9 %

STT stock opened at $98.74 on Friday. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The stock has a market capitalization of $28.48 billion, a PE ratio of 11.98, a price-to-earnings-growth 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. The company has a fifty day moving average of $98.55 and a 200-day moving average of $92.90.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter last year, the business earned $2.04 EPS. The business’s revenue was up 12.1% on a year-over-year basis. As a group, analysts expect that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Insider Transactions at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now owns 100,023 shares of the company’s stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,020 shares of company stock worth $2,674,661. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

STT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $103.00 price objective (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a research report on Friday, December 20th. Wells Fargo & Company increased their target price on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. Truist Financial dropped their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $100.73.

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.