Minot DeBlois Advisors LLC Takes $49,000 Position in State Street Co. (NYSE:STT)

Minot DeBlois Advisors LLC bought a new position in shares of State Street Co. (NYSE:STT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 500 shares of the asset manager’s stock, valued at approximately $49,000.

Several other large investors also recently bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in shares of State Street by 1.2% during the third quarter. Principal Financial Group Inc. now owns 346,252 shares of the asset manager’s stock worth $30,633,000 after buying an additional 4,052 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of State Street by 1.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,321 shares of the asset manager’s stock valued at $2,878,000 after purchasing an additional 535 shares during the last quarter. Czech National Bank raised its holdings in shares of State Street by 4.5% in the 4th quarter. Czech National Bank now owns 63,561 shares of the asset manager’s stock valued at $6,239,000 after purchasing an additional 2,729 shares in the last quarter. Brookstone Capital Management lifted its position in shares of State Street by 11.0% during the 4th quarter. Brookstone Capital Management now owns 7,196 shares of the asset manager’s stock worth $706,000 after purchasing an additional 712 shares during the last quarter. Finally, Wedmont Private Capital grew its stake in shares of State Street by 3.7% during the fourth quarter. Wedmont Private Capital now owns 6,152 shares of the asset manager’s stock worth $578,000 after purchasing an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on STT shares. Citigroup decreased their price target on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Evercore ISI decreased their target price on State Street from $109.00 to $106.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. The Goldman Sachs Group set a $98.00 price target on shares of State Street and gave the company a “buy” rating in a research note on Thursday, April 17th. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of State Street from $118.00 to $113.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.15.

Insiders Place Their Bets

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. This represents a 6.80% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,820 shares of company stock worth $1,567,972. Corporate insiders own 0.29% of the company’s stock.

State Street Stock Up 1.9%

Shares of NYSE:STT opened at $97.81 on Wednesday. The company has a market cap of $27.89 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.11 and a beta of 1.42. 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 $86.58 and its 200-day simple moving average is $93.71. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last issued its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same period in the prior year, the business posted $1.69 EPS. As a group, equities research analysts predict that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is currently 34.12%.

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.