Independent Advisor Alliance Makes New Investment in State Street Co. (NYSE:STT)

Independent Advisor Alliance bought a new stake in State Street Co. (NYSE:STT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,418 shares of the asset manager’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Albion Financial Group UT acquired a new stake in State Street in the fourth quarter valued at about $25,000. Y.D. More Investments Ltd lifted 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 buying an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of State Street in the 4th quarter valued at approximately $42,000. Friedenthal Financial purchased a new stake in shares of State Street in the fourth quarter valued at approximately $49,000. Finally, Hager Investment Management Services LLC acquired a new position in State Street during the fourth quarter worth $56,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on STT shares. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a report on Friday, December 20th. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Morgan Stanley decreased their price objective on shares of State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company lifted their price target 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. Finally, Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. One investment 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 MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.20.

Insider Activity

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Performance

NYSE:STT opened at $90.33 on Thursday. 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 firm has a market cap of $26.06 billion, a PE ratio of 10.96, a P/E/G ratio of 1.11 and a beta of 1.44. The firm has a 50 day simple moving average of $96.14 and a 200-day simple moving average of $94.16. 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 Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the firm posted $2.04 EPS. State Street’s revenue was up 12.1% on a year-over-year basis. On average, equities analysts expect that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

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 yield of 3.37%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is 36.89%.

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.