D.A. Davidson & CO. Acquires 4,907 Shares of State Street Co. (NYSE:STT)

D.A. Davidson & CO. increased its holdings in shares of State Street Co. (NYSE:STT) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 126,971 shares of the asset manager’s stock after purchasing an additional 4,907 shares during the period. D.A. Davidson & CO.’s holdings in State Street were worth $12,462,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STT. Exchange Traded Concepts LLC boosted its stake in State Street by 2,137.0% in the third quarter. Exchange Traded Concepts LLC now owns 1,633 shares of the asset manager’s stock valued at $144,000 after acquiring an additional 1,560 shares in the last quarter. Creative Planning boosted its stake in State Street by 13.4% in the third quarter. Creative Planning now owns 20,870 shares of the asset manager’s stock valued at $1,846,000 after acquiring an additional 2,470 shares in the last quarter. Blue Trust Inc. boosted its stake in State Street by 55.6% in the third quarter. Blue Trust Inc. now owns 4,452 shares of the asset manager’s stock valued at $394,000 after acquiring an additional 1,591 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in State Street by 17.5% in the third quarter. Sequoia Financial Advisors LLC now owns 3,545 shares of the asset manager’s stock valued at $314,000 after acquiring an additional 529 shares in the last quarter. Finally, Eastern Bank boosted its stake in State Street by 1.4% in the third quarter. Eastern Bank now owns 42,299 shares of the asset manager’s stock valued at $3,742,000 after acquiring an additional 593 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Morgan Stanley decreased their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Truist Financial dropped their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Barclays boosted their price objective on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company boosted their price objective 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, State Street has an average rating of “Hold” and a consensus price target of $100.73.

Insiders Place Their Bets

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.31% of the company’s stock.

State Street Trading Up 1.2 %

NYSE STT opened at $100.40 on Wednesday. The company has a market capitalization of $29.43 billion, a PE ratio of 12.18, a P/E/G ratio of 1.12 and a beta of 1.43. The company has a fifty day moving average of $98.58 and a 200 day moving average of $92.40. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. 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 (NYSE:STT) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. The company 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 firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.04 earnings per share. Research analysts forecast that State Street Co. will post 9.6 earnings per share for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders 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 3.03%. State Street’s dividend payout ratio (DPR) is currently 36.89%.

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.