Parsons Capital Management Inc. RI Purchases New Position in State Street Co. (NYSE:STT)

Parsons Capital Management Inc. RI purchased a new stake in State Street Co. (NYSE:STTFree Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,949 shares of the asset manager’s stock, valued at approximately $228,000.

Other institutional investors have also recently made changes to their positions in the company. Banque Cantonale Vaudoise lifted its holdings in shares of State Street by 54.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 10,839 shares of the asset manager’s stock valued at $726,000 after acquiring an additional 3,841 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of State Street in the 4th quarter valued at about $45,687,000. Crestwood Advisors Group LLC lifted its holdings in shares of State Street by 11.0% in the 3rd quarter. Crestwood Advisors Group LLC now owns 83,069 shares of the asset manager’s stock valued at $5,562,000 after acquiring an additional 8,202 shares during the last quarter. Ferguson Wellman Capital Management Inc. raised its position in State Street by 3.7% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 484,411 shares of the asset manager’s stock worth $37,522,000 after purchasing an additional 17,270 shares during the period. Finally, Private Management Group Inc. purchased a new stake in State Street in the 3rd quarter worth about $36,022,000. Institutional investors own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on STT. Bank of America reissued an “underperform” rating and issued a $81.00 price objective on shares of State Street in a research report on Thursday, January 4th. Morgan Stanley increased their price objective on shares of State Street from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Barclays increased their price objective on shares of State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. The Goldman Sachs Group raised shares of State Street from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $69.00 to $92.00 in a research report on Wednesday, January 3rd. Finally, Royal Bank of Canada raised their target price on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $81.83.

Check Out Our Latest Stock Report on State Street

Insider Buying and Selling at State Street

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

State Street Stock Performance

Shares of STT stock opened at $77.32 on Thursday. The firm has a market cap of $23.35 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 1.35 and a beta of 1.52. The company’s 50 day moving average is $73.67 and its 200 day moving average is $71.87. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.86. State Street Co. has a 52-week low of $62.78 and a 52-week high of $81.37.

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

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Monday, April 1st will be paid a $0.69 dividend. The ex-dividend date is Thursday, March 28th. This represents a $2.76 annualized dividend and a yield of 3.57%. State Street’s dividend payout ratio (DPR) is 50.27%.

State Street 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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