Janney Montgomery Scott LLC Increases Position in State Street Co. (NYSE:STT)

Janney Montgomery Scott LLC lifted its position in shares of State Street Co. (NYSE:STT) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,268 shares of the asset manager’s stock after purchasing an additional 7,446 shares during the period. Janney Montgomery Scott LLC’s holdings in State Street were worth $7,289,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of STT. Creative Planning lifted its holdings in State Street by 11.2% during the 2nd quarter. Creative Planning now owns 18,400 shares of the asset manager’s stock worth $1,362,000 after buying an additional 1,857 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of State Street by 5.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,863 shares of the asset manager’s stock valued at $878,000 after purchasing an additional 588 shares during the last quarter. Quarry LP grew its stake in State Street by 1,174.2% during the 2nd quarter. Quarry LP now owns 2,765 shares of the asset manager’s stock worth $205,000 after buying an additional 2,548 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of State Street by 1,078.9% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 305,973 shares of the asset manager’s stock valued at $22,642,000 after acquiring an additional 280,019 shares during the period. Finally, Heritage Oak Wealth Advisors LLC purchased a new stake in State Street in the 2nd quarter valued at $419,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Truist Financial lowered their price target on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Barclays lifted their price target on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, State Street currently has an average rating of “Hold” and a consensus price target of $100.73.

Insider Buying and Selling 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 transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by company insiders.

State Street Trading Up 0.3 %

Shares of STT stock opened at $100.58 on Wednesday. State Street Co. has a twelve month low of $70.20 and a twelve month high of $101.91. The company has a market capitalization of $29.48 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.11 and a beta of 1.43. The firm has a 50-day moving average price of $98.08 and a 200 day moving average price of $90.74. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last announced 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. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter last year, the business earned $2.04 earnings per share. State Street’s revenue was up 12.1% compared to the same quarter last year. Research analysts forecast that State Street Co. will post 9.43 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.76 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 annualized dividend and a yield of 3.02%. State Street’s dividend payout ratio (DPR) is presently 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.