Kohmann Bosshard Financial Services LLC Invests $42,000 in State Street Co. (NYSE:STT)

Kohmann Bosshard Financial Services LLC purchased a new position in State Street Co. (NYSE:STT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 423 shares of the asset manager’s stock, valued at approximately $42,000.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in State Street by 0.6% in the third quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock valued at $632,111,000 after acquiring an additional 41,442 shares during the last quarter. FMR LLC increased its stake in State Street by 15.8% in the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after acquiring an additional 833,679 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in State Street by 30.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after acquiring an additional 1,354,560 shares during the last quarter. Franklin Resources Inc. increased its stake in State Street by 13.8% in the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after acquiring an additional 408,792 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in State Street by 1.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,421,569 shares of the asset manager’s stock valued at $214,236,000 after acquiring an additional 23,252 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently 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 on the stock in a research note on Friday, December 20th. Morgan Stanley reduced their target price on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Truist Financial reduced their target price on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods upgraded shares of 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, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 price target (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $100.73.

State Street Stock Performance

State Street stock opened at $96.86 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The firm has a 50-day moving average of $98.56 and a 200-day moving average of $93.83. The firm has a market cap of $27.94 billion, a P/E ratio of 11.75, a P/E/G ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period last year, the business posted $2.04 earnings per share. State Street’s quarterly revenue was up 12.1% compared to the same quarter last year. Sell-side analysts expect that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.14%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Insiders Place Their Bets

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares of the company’s stock, valued at $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

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.