Davidson Trust Co. Takes $204,000 Position in State Street Co. (NYSE:STT)

Davidson Trust Co. purchased a new stake in State Street Co. (NYSE:STT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,636 shares of the asset manager’s stock, valued at approximately $204,000.

A number of other large investors also recently bought and sold shares of the business. CVA Family Office LLC acquired a new stake in shares of State Street in the fourth quarter valued at about $27,000. Venturi Wealth Management LLC increased its stake in shares of State Street by 92.5% in the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after acquiring an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of State Street during the 4th quarter valued at about $35,000. Covestor Ltd grew its holdings in shares of State Street by 69.2% in the first quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 234 shares during the period. Finally, State of Wyoming increased its position in State Street by 51.3% during the second quarter. State of Wyoming now owns 619 shares of the asset manager’s stock worth $45,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays raised their price target on shares of State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. upped their target price on shares of State Street from $79.50 to $80.50 in a research report on Friday, April 12th. The Goldman Sachs Group raised shares of State Street from a “neutral” rating to a “buy” rating and increased their target price for the stock from $69.00 to $92.00 in a research note on Wednesday, January 3rd. Royal Bank of Canada increased their price objective on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Finally, Bank of America reissued an “underperform” rating and issued a $81.00 target price on shares of State Street in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $84.04.

State Street Stock Up 0.2 %

Shares of NYSE STT traded up $0.15 during trading on Friday, reaching $73.19. 660,828 shares of the stock were exchanged, compared to its average volume of 2,260,909. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The business’s 50-day moving average price is $73.99 and its 200 day moving average price is $72.37. The company has a market capitalization of $22.10 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52. State Street Co. has a twelve month low of $62.78 and a twelve month high of $79.90.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.95 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. The firm’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.07 EPS. As a group, equities analysts forecast that State Street Co. will post 7.91 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were issued a $0.69 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a yield of 3.77%. State Street’s dividend payout ratio is currently 51.69%.

Insider Buying and Selling at State Street

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at $1,294,801. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of the company’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 value of $886,800.00. Following the completion of the sale, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the transaction, the executive vice president now owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The disclosure for this sale can be found here. Insiders sold a total of 18,864 shares of company stock worth $1,390,597 over the last ninety days. Company insiders own 0.31% of the company’s stock.

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.