Life Planning Partners Inc Purchases Shares of 100,702 State Street Co. (NYSE:STT)

Life Planning Partners Inc acquired a new position in shares of State Street Co. (NYSE:STT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 100,702 shares of the asset manager’s stock, valued at approximately $9,884,000. State Street makes up about 1.4% of Life Planning Partners Inc’s investment portfolio, making the stock its 21st biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. RWA Wealth Partners LLC bought a new position in State Street in the fourth quarter worth approximately $329,000. Summit Securities Group LLC acquired a new position in shares of State Street during the fourth quarter worth approximately $69,000. Schroder Investment Management Group grew its position in State Street by 3.9% in the 4th quarter. Schroder Investment Management Group now owns 174,225 shares of the asset manager’s stock valued at $17,123,000 after purchasing an additional 6,473 shares during the period. Allianz SE bought a new stake in State Street during the 4th quarter valued at $1,776,000. Finally, Allstate Corp acquired a new position in State Street during the fourth quarter worth $832,000. Institutional investors own 87.44% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on STT. Truist Financial decreased their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Barclays increased their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Wells Fargo & Company cut their price objective on shares of State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $101.53.

State Street Trading Down 3.1 %

NYSE:STT opened at $88.95 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 current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm’s 50 day moving average is $95.35 and its 200 day moving average is $94.48. The stock has a market capitalization of $25.66 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44.

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

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.42%. State Street’s dividend payout ratio is presently 36.89%.

State Street Company 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.