Life Planning Partners Inc Acquires New Position in State Street Co. (NYSE:STT)

Life Planning Partners Inc bought a new position in shares of State Street Co. (NYSE:STT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 100,702 shares of the asset manager’s stock, valued at approximately $9,884,000.

A number of other institutional investors have also made changes to their positions in the stock. Albion Financial Group UT purchased a new position in shares of State Street in the 4th quarter valued at about $25,000. Y.D. More Investments Ltd lifted its position in State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares during the period. Coastline Trust Co purchased a new position in State Street during the 3rd quarter worth $44,000. Friedenthal Financial purchased a new stake in State Street in the 4th quarter valued at approximately $49,000. Finally, Hager Investment Management Services LLC acquired a new position in State Street during the fourth quarter worth $56,000. 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 stock in a transaction 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 completion of the sale, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

State Street Stock Performance

Shares of NYSE:STT opened at $99.05 on Friday. The business has a 50-day moving average of $98.56 and a two-hundred day moving average of $92.05. The firm has a market capitalization of $29.04 billion, a PE ratio of 12.02, a P/E/G ratio of 1.12 and a beta of 1.43. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00.

State Street (NYSE:STT) last posted its earnings results 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. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.04 EPS. As a group, research analysts forecast that State Street Co. will post 9.6 earnings per share for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio is presently 36.89%.

Analyst Ratings Changes

Several equities analysts have weighed in on STT shares. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and raised their target price for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $103.00 price target (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. Wells Fargo & Company upped their target price on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. 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 analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average 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.