Proficio Capital Partners LLC Acquires Shares of 2,071 State Street Co. (NYSE:STT)

Proficio Capital Partners LLC acquired a new stake in shares of State Street Co. (NYSE:STT) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,071 shares of the asset manager’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in STT. Flagship Harbor Advisors LLC bought a new position in State Street during the 4th quarter worth approximately $272,000. Charles Schwab Investment Management Inc. grew its stake in shares of State Street by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager’s stock worth $184,025,000 after acquiring an additional 10,404 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of State Street by 11.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock worth $7,289,000 after buying an additional 7,446 shares during the last quarter. Merit Financial Group LLC bought a new position in State Street in the 4th quarter valued at $395,000. Finally, SYM FINANCIAL Corp bought a new stake in State Street in the fourth quarter worth about $244,000. 87.44% of the stock is currently owned by institutional investors.

Insider Activity at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 100,023 shares of the company’s stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on STT. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Barclays upped their target price 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. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and raised their price target for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company upped their price target on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $101.87.

State Street Trading Down 0.9 %

STT opened at $91.82 on Friday. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The stock has a market cap of $26.49 billion, a PE ratio of 11.14, a PEG ratio of 1.11 and a beta of 1.44. The business has a 50 day moving average of $95.53 and a 200-day moving average of $94.36. 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 announced its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the business earned $2.04 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities research analysts predict that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is 36.89%.

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.