Ballentine Partners LLC Acquires 485 Shares of State Street Co. (NYSE:STT)

Ballentine Partners LLC raised its stake in shares of State Street Co. (NYSE:STT) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,336 shares of the asset manager’s stock after purchasing an additional 485 shares during the period. Ballentine Partners LLC’s holdings in State Street were worth $1,113,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC raised its position in shares of State Street by 30.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after acquiring an additional 1,354,560 shares during the last quarter. FMR LLC raised its holdings in State Street by 15.8% during the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after purchasing an additional 833,679 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of State Street by 818.1% in the 3rd quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock worth $45,889,000 after purchasing an additional 462,201 shares during the period. National Bank of Canada FI boosted its stake in shares of State Street by 99.4% in the 3rd quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager’s stock valued at $78,574,000 after purchasing an additional 442,725 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of State Street by 13.8% during the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock worth $306,116,000 after buying an additional 408,792 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on STT shares. Morgan Stanley dropped their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. upgraded 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. Truist Financial decreased their target price on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company raised their price objective on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $100.73.

State Street Trading Down 1.9 %

Shares of State Street stock opened at $97.13 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a fifty day simple moving average of $97.82 and a 200 day simple moving average of $90.08. State Street Co. has a 12-month low of $70.20 and a 12-month high of $101.91. The company has a market capitalization of $28.47 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating 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 the consensus estimate of $3,267,560 billion. During the same quarter in the prior year, the company posted $2.04 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, sell-side analysts anticipate that State Street Co. will post 9.57 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.76 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.13%. State Street’s dividend payout ratio is currently 36.89%.

Insider Transactions at State Street

In other State Street news, 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 value of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

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.