Klein Pavlis & Peasley Financial Inc. Invests $557,000 in State Street Co. (NYSE:STT)

Klein Pavlis & Peasley Financial Inc. bought a new position in shares of State Street Co. (NYSE:STTFree Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,186 shares of the asset manager’s stock, valued at approximately $557,000.

A number of other institutional investors also recently modified their holdings of STT. Raymond James Trust N.A. boosted its holdings in shares of State Street by 29.3% during the first quarter. Raymond James Trust N.A. now owns 4,505 shares of the asset manager’s stock worth $392,000 after purchasing an additional 1,021 shares during the period. Blair William & Co. IL boosted its position in State Street by 14.3% during the 1st quarter. Blair William & Co. IL now owns 17,756 shares of the asset manager’s stock valued at $1,547,000 after acquiring an additional 2,216 shares in the last quarter. Sei Investments Co. boosted its position in State Street by 3.8% during the 1st quarter. Sei Investments Co. now owns 280,353 shares of the asset manager’s stock valued at $24,436,000 after acquiring an additional 10,187 shares in the last quarter. Prudential PLC bought a new stake in State Street during the 1st quarter valued at approximately $812,000. Finally, Cetera Investment Advisers boosted its position in State Street by 16.5% during the 1st quarter. Cetera Investment Advisers now owns 23,170 shares of the asset manager’s stock valued at $2,019,000 after acquiring an additional 3,276 shares in the last quarter. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on STT shares. Bank of America reaffirmed an “underperform” rating and set a $81.00 price objective on shares of State Street in a research report on Thursday, January 4th. Morgan Stanley lifted their price objective on State Street from $83.00 to $88.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. Royal Bank of Canada boosted their price target on State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Wells Fargo & Company reissued an “overweight” rating and issued a $83.00 price target on shares of State Street in a research report on Wednesday, December 6th. Finally, UBS Group boosted their price target on State Street from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $81.83.

View Our Latest Stock Analysis on State Street

State Street Price Performance

Shares of STT opened at $75.84 on Friday. The firm has a market cap of $22.90 billion, a PE ratio of 13.81, a P/E/G ratio of 1.33 and a beta of 1.52. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.86. The firm has a fifty day simple moving average of $73.43 and a two-hundred day simple moving average of $71.58. State Street Co. has a 1-year low of $62.78 and a 1-year high of $81.37.

State Street (NYSE:STTGet Free Report) last announced its earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. State Street had a net margin of 10.59% and a return on equity of 11.86%. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the business earned $2.07 EPS. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities analysts anticipate that State Street Co. will post 7.83 EPS for the current year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Monday, April 1st will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Thursday, March 28th. State Street’s payout ratio is 50.27%.

Insider Activity

In other news, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the completion of the sale, the executive vice president now owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the sale, the chief financial officer now owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the sale, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The disclosure for this sale can be found here. Insiders sold a total of 18,864 shares of company stock valued at $1,390,597 in the last 90 days. Company insiders own 0.25% of the company’s stock.

State Street Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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