Brookstone Capital Management Acquires 712 Shares of State Street Co. (NYSE:STT)

Brookstone Capital Management raised its stake in State Street Co. (NYSE:STT) by 11.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,196 shares of the asset manager’s stock after acquiring an additional 712 shares during the quarter. Brookstone Capital Management’s holdings in State Street were worth $706,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in State Street by 21.0% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,395 shares of the asset manager’s stock valued at $917,000 after buying an additional 2,153 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of State Street by 10.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,774 shares of the asset manager’s stock valued at $2,573,000 after acquiring an additional 3,230 shares in the last quarter. XTX Topco Ltd increased its position in State Street by 646.9% in the 2nd quarter. XTX Topco Ltd now owns 21,691 shares of the asset manager’s stock valued at $1,605,000 after buying an additional 18,787 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in State Street by 5.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock valued at $186,000 after buying an additional 129 shares in the last quarter. Finally, Bridges Investment Management Inc. increased its stake in State Street by 407.7% during the 2nd quarter. Bridges Investment Management Inc. now owns 36,679 shares of the asset manager’s stock valued at $2,714,000 after purchasing an additional 29,454 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction on 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 sale, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on STT. 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. Barclays raised their price objective on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Evercore ISI upped their price objective on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group raised their target price on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Truist Financial started coverage on State Street in a research note on Tuesday, January 7th. They issued a “hold” rating and a $106.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $100.33.

State Street Stock Down 3.0 %

Shares of STT stock opened at $97.51 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a 12 month low of $70.20 and a 12 month high of $101.91. The stock has a market cap of $28.58 billion, a P/E ratio of 15.40, a P/E/G ratio of 0.97 and a beta of 1.43. The company has a 50 day simple moving average of $97.67 and a two-hundred day simple moving average of $89.35.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3,267,560 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.04 EPS. On average, research analysts expect that State Street Co. will post 8.45 earnings per share for the current year.

State Street Announces Dividend

The firm also recently disclosed 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 3.12%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is 48.03%.

State Street Company 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.