5,916 Shares in State Street Co. (NYSE:STT) Acquired by Bryce Point Capital LLC

Bryce Point Capital LLC acquired a new stake in State Street Co. (NYSE:STT) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 5,916 shares of the asset manager’s stock, valued at approximately $581,000.

Several other large investors have also modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new stake in State Street in the 4th quarter valued at $272,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in State Street by 3.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager’s stock valued at $44,725,000 after purchasing an additional 14,476 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of State Street by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager’s stock valued at $184,025,000 after buying an additional 10,404 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of State Street by 11.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock worth $7,289,000 after buying an additional 7,446 shares during the period. Finally, Merit Financial Group LLC purchased a new position in shares of State Street during the fourth quarter worth about $395,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on STT shares. Wells Fargo & Company reduced their price objective on State Street from $118.00 to $113.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Citigroup cut their price target on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Morgan Stanley lowered their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 target price (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $102.07.

State Street Stock Performance

STT opened at $89.67 on Thursday. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The stock has a market cap of $25.87 billion, a P/E ratio of 10.88, a P/E/G ratio of 1.11 and a beta of 1.44. The stock’s 50 day simple moving average is $94.85 and its 200 day simple moving average is $94.62. 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 announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business 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 posted $2.04 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities analysts anticipate that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is presently 36.89%.

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.