DGS Capital Management LLC Purchases 214 Shares of State Street Co. (NYSE:STT)

DGS Capital Management LLC raised its stake in State Street Co. (NYSE:STT) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,849 shares of the asset manager’s stock after buying an additional 214 shares during the period. DGS Capital Management LLC’s holdings in State Street were worth $453,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. IFP Advisors Inc increased its position in State Street by 24.9% in the second quarter. IFP Advisors Inc now owns 733 shares of the asset manager’s stock worth $54,000 after buying an additional 146 shares during the last quarter. First Manhattan Co. increased its position in State Street by 7.5% in the fourth quarter. First Manhattan Co. now owns 2,119 shares of the asset manager’s stock worth $164,000 after buying an additional 148 shares during the last quarter. Apollon Wealth Management LLC increased its position in State Street by 1.8% in the fourth quarter. Apollon Wealth Management LLC now owns 8,337 shares of the asset manager’s stock worth $647,000 after buying an additional 149 shares during the last quarter. HBK Sorce Advisory LLC increased its position in State Street by 0.8% in the third quarter. HBK Sorce Advisory LLC now owns 20,131 shares of the asset manager’s stock worth $1,348,000 after buying an additional 151 shares during the last quarter. Finally, United Capital Financial Advisers LLC increased its position in State Street by 3.7% in the first quarter. United Capital Financial Advisers LLC now owns 4,717 shares of the asset manager’s stock worth $411,000 after buying an additional 170 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on STT. Bank of America reiterated an “underperform” rating and issued a $81.00 price target on shares of State Street in a research report on Thursday, January 4th. Royal Bank of Canada lifted their price objective on State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. UBS Group lifted their price objective on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday. Argus lifted their price objective on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday. Finally, Evercore ISI lifted their price objective on State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $84.04.

State Street Stock Performance

Shares of NYSE STT traded down $1.39 during midday trading on Tuesday, hitting $73.54. 1,030,737 shares of the stock traded hands, compared to its average volume of 2,262,704. The firm has a 50-day moving average of $73.96 and a two-hundred day moving average of $72.32. The firm has a market capitalization of $22.20 billion, a P/E ratio of 14.03, a PEG ratio of 1.42 and a beta of 1.52. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.61. State Street Co. has a one year low of $62.78 and a one year high of $79.90.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.21. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.95 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.07 EPS. On average, equities analysts forecast that State Street Co. will post 7.85 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were paid a $0.69 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.76 annualized dividend and a dividend yield of 3.75%. State Street’s dividend payout ratio (DPR) is 51.69%.

Insiders Place Their Bets

In related news, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the transaction, the chief financial officer now owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares in the company, valued at approximately $1,294,801. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,864 shares of company stock worth $1,390,597. Corporate insiders own 0.31% of the company’s stock.

About State Street

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.