Minot DeBlois Advisors LLC Takes Position in State Street Co. (NYSE:STT)

Minot DeBlois Advisors LLC bought a new position in shares of State Street Co. (NYSE:STT) during the 4th quarter, Holdings Channel.com reports. The firm bought 500 shares of the asset manager’s stock, valued at approximately $49,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Albion Financial Group UT purchased a new position in shares of State Street during the 4th quarter worth about $25,000. Y.D. More Investments Ltd boosted its holdings 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. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of State Street during the 4th quarter valued at $42,000. Coppell Advisory Solutions LLC increased its holdings in shares of State Street by 2,942.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock worth $42,000 after buying an additional 412 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its position in shares of State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after buying an additional 311 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value 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 document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now directly owns 50,816 shares in the company, 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. Insiders have sold 15,820 shares of company stock valued at $1,567,972 over the last ninety days. Corporate insiders own 0.29% of the company’s stock.

State Street Stock Performance

NYSE:STT opened at $97.81 on Wednesday. The firm has a 50-day moving average of $86.58 and a two-hundred day moving average of $93.71. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $27.89 billion, a P/E ratio of 11.87, a PEG ratio of 1.11 and a beta of 1.42. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00.

State Street (NYSE:STT) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the prior year, the business posted $1.69 earnings per share. On average, research analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a $0.76 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.11%. State Street’s dividend payout ratio (DPR) is presently 34.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on STT shares. Citigroup lowered their price target on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Morgan Stanley dropped their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Barclays reduced their price target on shares of State Street from $127.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group set a $98.00 target price on shares of State Street and gave the company a “buy” rating in a research note on Thursday, April 17th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 price target (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $102.15.

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.