McAdam LLC Purchases 1,343 Shares of State Street Co. (NYSE:STT)

McAdam LLC increased its position in shares of State Street Co. (NYSE:STT) by 20.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,769 shares of the asset manager’s stock after purchasing an additional 1,343 shares during the period. McAdam LLC’s holdings in State Street were worth $763,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Albion Financial Group UT acquired a new position in shares of State Street in the 4th quarter worth approximately $25,000. Coastline Trust Co bought a new stake in shares of State Street in the 3rd quarter worth about $44,000. Friedenthal Financial acquired a new stake in shares of State Street during the 4th quarter worth about $49,000. R Squared Ltd bought a new position in State Street during the 4th quarter valued at about $58,000. Finally, Capital Performance Advisors LLP bought a new position in State Street during the 3rd quarter valued at about $54,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Price Performance

STT opened at $101.61 on Monday. The company has a fifty day moving average price of $98.51 and a two-hundred day moving average price of $91.25. The firm has a market capitalization of $29.79 billion, a PE ratio of 12.33, a P/E/G ratio of 1.14 and a beta of 1.43. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. 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 data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the previous year, the firm earned $2.04 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, analysts anticipate that State Street Co. will post 9.6 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. Investors of record on Thursday, January 2nd were given a $0.76 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.99%. State Street’s dividend payout ratio is 36.89%.

Insider Buying and Selling

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company’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 value of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a report on Friday, December 20th. Truist Financial cut their price objective on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Finally, StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $100.73.

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.