Proficio Capital Partners LLC Makes New Investment in State Street Co. (NYSE:STT)

Proficio Capital Partners LLC purchased a new stake in State Street Co. (NYSE:STT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 203,269 shares of the asset manager’s stock, valued at approximately $203,000. Proficio Capital Partners LLC owned 0.07% of State Street at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of State Street by 30.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after acquiring an additional 1,354,560 shares during the period. FMR LLC raised its position in State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after purchasing an additional 833,679 shares in the last quarter. Wellington Management Group LLP lifted its stake in State Street by 818.1% during the third quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock worth $45,889,000 after purchasing an additional 462,201 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of State Street by 99.4% in the 3rd quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager’s stock valued at $78,574,000 after purchasing an additional 442,725 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of State Street by 13.8% in the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after purchasing an additional 408,792 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Transactions at State Street

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 value of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares of the company’s stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

State Street Stock Up 0.0 %

STT opened at $85.76 on Thursday. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The firm has a market capitalization of $24.74 billion, a P/E ratio of 10.41, a PEG ratio of 1.11 and a beta of 1.44. The company’s 50-day moving average is $97.18 and its 200 day moving average is $94.09. 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 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.04 EPS. Research analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be paid a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.54%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Analysts Set New Price Targets

STT has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 price objective (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Truist Financial reduced their price target on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company boosted their target price on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $101.20.

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.