Boston Financial Mangement LLC Makes New $250,000 Investment in State Street Co. (NYSE:STT)

Boston Financial Mangement LLC bought a new position in State Street Co. (NYSE:STT) during the fourth quarter, Holdings Channel reports. The institutional investor bought 2,546 shares of the asset manager’s stock, valued at approximately $250,000.

A number of other large investors have also recently bought and sold shares of STT. Creative Planning lifted its holdings in State Street by 13.4% in the third quarter. Creative Planning now owns 20,870 shares of the asset manager’s stock worth $1,846,000 after acquiring an additional 2,470 shares during the last quarter. Blue Trust Inc. lifted its holdings in State Street by 55.6% in the third quarter. Blue Trust Inc. now owns 4,452 shares of the asset manager’s stock worth $394,000 after acquiring an additional 1,591 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in State Street by 17.5% in the third quarter. Sequoia Financial Advisors LLC now owns 3,545 shares of the asset manager’s stock worth $314,000 after acquiring an additional 529 shares during the last quarter. Waldron Private Wealth LLC bought a new position in State Street in the third quarter worth about $102,000. Finally, International Assets Investment Management LLC lifted its holdings in State Street by 15,129.6% in the third quarter. International Assets Investment Management LLC now owns 32,439 shares of the asset manager’s stock worth $2,870,000 after acquiring an additional 32,226 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction that occurred on 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,020 shares of company stock worth $2,674,661. Corporate insiders own 0.31% of the company’s stock.

State Street Price Performance

NYSE STT opened at $99.63 on Friday. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. 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 capitalization of $28.74 billion, a PE ratio of 12.09, a P/E/G ratio of 1.12 and a beta of 1.43. The company’s 50 day simple moving average is $98.58 and its 200 day simple moving average is $92.64.

State Street (NYSE:STT) last issued its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $2.04 earnings per share. As a group, equities research analysts forecast that State Street Co. will post 9.65 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.05%. State Street’s payout ratio is 36.89%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Truist Financial dropped their price target on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research note 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 target for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Morgan Stanley dropped their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Finally, Wells Fargo & Company raised their price target on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.