Round Rock Advisors LLC Takes Position in State Street Co. (NYSE:STT)

Round Rock Advisors LLC acquired a new position in State Street Co. (NYSE:STT) during the 4th quarter, HoldingsChannel reports. The fund acquired 2,203 shares of the asset manager’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Flagship Harbor Advisors LLC bought a new stake in State Street during the fourth quarter valued at $272,000. KBC Group NV lifted its stake in shares of State Street by 20.5% in the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after purchasing an additional 12,707 shares during the period. Merit Financial Group LLC bought a new stake in shares of State Street during the 4th quarter valued at about $395,000. Asset Management One Co. Ltd. grew its stake in State Street by 17.3% during the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock worth $12,124,000 after purchasing an additional 20,183 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in State Street by 11.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock worth $7,289,000 after purchasing an additional 7,446 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is owned by company insiders.

State Street Stock Down 0.6 %

State Street stock opened at $101.61 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $29.79 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.14 and a beta of 1.43. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The firm’s 50-day simple moving average is $98.51 and its 200 day simple moving average is $91.25.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating 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 company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period last year, the business posted $2.04 earnings per share. State Street’s revenue was up 12.1% on a year-over-year basis. Research analysts predict that State Street Co. will post 9.6 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is currently 36.89%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Barclays raised their price objective on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. Evercore ISI increased their price objective on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research report on Friday, December 20th. Finally, Truist Financial cut their price target on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.