Vest Financial LLC Purchases 119,559 Shares of State Street Corporation $STT

Vest Financial LLC boosted its holdings in State Street Corporation (NYSE:STT) by 57.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 326,344 shares of the asset manager’s stock after buying an additional 119,559 shares during the period. Vest Financial LLC’s holdings in State Street were worth $37,859,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. True Wealth Design LLC lifted its holdings in shares of State Street by 166.3% during the third quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 158 shares in the last quarter. SJS Investment Consulting Inc. boosted its holdings in shares of State Street by 2,142.9% during the 3rd quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 300 shares during the last quarter. City Holding Co. purchased a new stake in shares of State Street during the 3rd quarter valued at about $47,000. Root Financial Partners LLC bought a new stake in shares of State Street in the third quarter worth approximately $47,000. Finally, AlphaCore Capital LLC raised its holdings in shares of State Street by 103.5% during the second quarter. AlphaCore Capital LLC now owns 468 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 238 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Price Performance

Shares of STT opened at $129.65 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.59. The company’s fifty day moving average price is $125.55 and its 200-day moving average price is $117.49. State Street Corporation has a 1-year low of $72.81 and a 1-year high of $137.05. The firm has a market capitalization of $36.21 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 0.85 and a beta of 1.43.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.15. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.57 billion. State Street had a return on equity of 13.46% and a net margin of 13.02%.The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.60 EPS. On average, equities research analysts predict that State Street Corporation will post 9.68 EPS for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 12th. Investors of record on Friday, January 2nd were given a $0.84 dividend. The ex-dividend date was Friday, January 2nd. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. State Street’s dividend payout ratio is currently 35.71%.

Analyst Ratings Changes

A number of research firms have commented on STT. Keefe, Bruyette & Woods lifted their target price on shares of State Street from $132.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of State Street in a report on Tuesday, January 6th. Loop Capital set a $144.00 target price on State Street in a research report on Tuesday, January 6th. Evercore ISI upped their price target on shares of State Street from $117.00 to $128.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Finally, Wells Fargo & Company raised their price objective on shares of State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, State Street currently has an average rating of “Moderate Buy” and an average target price of $133.31.

Insiders Place Their Bets

In other State Street news, EVP Michael L. Richards sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $117.24, for a total transaction of $175,860.00. Following the completion of the transaction, the executive vice president directly owned 38,626 shares of the company’s stock, valued at approximately $4,528,512.24. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.29% of the company’s stock.

State Street Company Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.