Davis R M Inc. Takes $212,000 Position in State Street Co. (NYSE:STT)

Davis R M Inc. acquired a new position in State Street Co. (NYSE:STT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,160 shares of the asset manager’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Albion Financial Group UT purchased a new position in shares of State Street in the fourth quarter worth approximately $25,000. Y.D. More Investments Ltd boosted its holdings in shares of State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after buying an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of State Street in the fourth quarter worth approximately $42,000. Coastline Trust Co purchased a new position in shares of State Street in the third quarter worth approximately $44,000. Finally, Friedenthal Financial purchased a new position in shares of State Street in the fourth quarter worth approximately $49,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Trading Up 0.0 %

Shares of STT opened at $85.76 on Thursday. The company’s fifty day moving average is $97.18 and its 200 day moving average is $94.09. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The stock has a market capitalization of $24.74 billion, a PE ratio of 10.41, a P/E/G ratio of 1.11 and a beta of 1.44. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share 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 company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the business posted $2.04 earnings per share. State Street’s quarterly revenue was up 12.1% on a year-over-year basis. Sell-side analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.54%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio is presently 36.89%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on STT shares. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Wells Fargo & Company raised 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Finally, StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. One equities research 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’s stock. According to data from MarketBeat, State Street has an average rating of “Hold” and an average price target of $101.20.

Insider Buying and Selling

In other State Street news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction on Tuesday, February 18th. The stock was 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. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

About State Street

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.