HB Wealth Management LLC Acquires 401 Shares of State Street Co. (NYSE:STT)

HB Wealth Management LLC lifted its holdings in shares of State Street Co. (NYSE:STT) by 7.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,481 shares of the asset manager’s stock after purchasing an additional 401 shares during the period. HB Wealth Management LLC’s holdings in State Street were worth $538,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Trust Co. of Vermont grew its stake in shares of State Street by 190.6% during the fourth quarter. Trust Co. of Vermont now owns 1,889 shares of the asset manager’s stock valued at $185,000 after buying an additional 1,239 shares during the last quarter. Verity & Verity LLC boosted its holdings in State Street by 4.9% during the 4th quarter. Verity & Verity LLC now owns 251,581 shares of the asset manager’s stock valued at $24,693,000 after acquiring an additional 11,784 shares during the period. Merit Financial Group LLC bought a new position in State Street during the 4th quarter worth approximately $395,000. Avanza Fonder AB purchased a new position in State Street in the 4th quarter worth approximately $2,041,000. Finally, Empirical Asset Management LLC lifted its position in State Street by 11.1% in the fourth quarter. Empirical Asset Management LLC now owns 4,607 shares of the asset manager’s stock valued at $452,000 after purchasing an additional 459 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Transactions at State Street

In other State Street 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 transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is owned by insiders.

State Street Stock Down 1.9 %

Shares of State Street stock opened at $97.13 on Thursday. State Street Co. has a 1 year low of $70.20 and a 1 year high of $101.91. 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 company has a 50-day moving average of $97.82 and a 200 day moving average of $90.08. The firm has a market cap of $28.47 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 1.06 and a beta of 1.43.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3,267,560 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned $2.04 earnings per share. As a group, 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 business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.13%. State Street’s payout ratio is presently 36.89%.

Wall Street Analyst Weigh In

Several brokerages recently commented on STT. Wells Fargo & Company lifted their target price on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. Morgan Stanley lowered their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a research note on Wednesday. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and upped their price target for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Finally, StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $100.73.

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.