Clear Harbor Asset Management LLC Invests $243,000 in State Street Co. (NYSE:STT)

Clear Harbor Asset Management LLC purchased a new stake in State Street Co. (NYSE:STT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,475 shares of the asset manager’s stock, valued at approximately $243,000.

Several other large investors have also recently bought and sold shares of STT. Coastline Trust Co acquired a new position in shares of State Street during the 3rd quarter worth $44,000. Friedenthal Financial acquired a new position in State Street during the fourth quarter worth about $49,000. Capital Performance Advisors LLP purchased a new position in State Street in the third quarter valued at about $54,000. Versant Capital Management Inc lifted its position in shares of State Street by 37.0% during the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock valued at $72,000 after acquiring an additional 197 shares during the period. Finally, Tobam purchased a new stake in shares of State Street during the 3rd quarter worth approximately $77,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Trading Down 1.9 %

NYSE STT opened at $97.13 on Thursday. The company has a market cap of $28.47 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.06 and a beta of 1.43. State Street Co. has a 12 month low of $70.20 and a 12 month high of $101.91. 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 company has a 50-day moving average of $97.82 and a 200-day moving average of $90.08.

State Street (NYSE:STT) last posted its quarterly 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. 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 the consensus estimate of $3,267,560 billion. During the same quarter last year, the firm posted $2.04 earnings per share. State Street’s revenue was up 12.1% on a year-over-year basis. As a group, equities analysts predict that State Street Co. will post 9.57 earnings per share for the current year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Insiders Place Their Bets

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was 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 owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Morgan Stanley decreased their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 target price (down from $104.00) on shares of State Street in a report on Wednesday. Evercore ISI upped their price target on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group raised their price objective on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, State Street presently has a consensus rating of “Hold” and an average target price 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.