Whipplewood Advisors LLC Makes New $61,000 Investment in State Street Co. (NYSE:STT)

Whipplewood Advisors LLC purchased a new position in State Street Co. (NYSE:STT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 623 shares of the asset manager’s stock, valued at approximately $61,000.

A number of other large investors have also bought and sold shares of STT. International Assets Investment Management LLC grew its holdings in State Street by 15,129.6% in the third quarter. International Assets Investment Management LLC now owns 32,439 shares of the asset manager’s stock worth $2,870,000 after purchasing an additional 32,226 shares during the period. Assenagon Asset Management S.A. grew its holdings in State Street by 9.8% in the third quarter. Assenagon Asset Management S.A. now owns 10,661 shares of the asset manager’s stock worth $943,000 after purchasing an additional 954 shares during the period. First Trust Direct Indexing L.P. grew its holdings in State Street by 17.0% in the third quarter. First Trust Direct Indexing L.P. now owns 10,757 shares of the asset manager’s stock worth $952,000 after purchasing an additional 1,566 shares during the period. Pinnacle Associates Ltd. grew its holdings in State Street by 13.0% in the third quarter. Pinnacle Associates Ltd. now owns 6,122 shares of the asset manager’s stock worth $542,000 after purchasing an additional 704 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in shares of State Street by 95.0% in the third quarter. Farther Finance Advisors LLC now owns 3,399 shares of the asset manager’s stock valued at $301,000 after buying an additional 1,656 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on STT shares. Morgan Stanley dropped 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 note on Friday, January 3rd. Barclays raised their price objective on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 price objective (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a research note on Friday, December 20th. 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. According to MarketBeat.com, State Street has an average rating of “Hold” and an average price target of $100.73.

State Street Stock Up 2.0 %

STT opened at $99.45 on Friday. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The company’s 50-day moving average is $98.59 and its 200 day moving average is $93.51. 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 firm has a market capitalization of $28.69 billion, a P/E ratio of 12.07, a PEG ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) 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 business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the company posted $2.04 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. Research analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued 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 3.06%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Insider Buying and Selling

In related news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate 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.