State Street Co. (NYSE:STT) Stock Position Increased by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. boosted its position in shares of State Street Co. (NYSE:STT) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,064,840 shares of the asset manager’s stock after buying an additional 36,691 shares during the quarter. State Street accounts for approximately 2.0% of Ferguson Wellman Capital Management Inc.’s investment portfolio, making the stock its 12th largest position. Ferguson Wellman Capital Management Inc. owned approximately 0.36% of State Street worth $104,514,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of STT. Savant Capital LLC boosted its position in shares of State Street by 1.1% during the 4th quarter. Savant Capital LLC now owns 28,172 shares of the asset manager’s stock valued at $2,765,000 after purchasing an additional 310 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in State Street by 49.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,704 shares of the asset manager’s stock worth $462,000 after buying an additional 1,561 shares in the last quarter. Howland Capital Management LLC acquired a new position in State Street in the fourth quarter worth approximately $439,000. Entropy Technologies LP bought a new position in shares of State Street in the fourth quarter valued at $1,827,000. Finally, Empowered Funds LLC lifted its position in shares of State Street by 47.4% during the 4th quarter. Empowered Funds LLC now owns 7,267 shares of the asset manager’s stock valued at $708,000 after acquiring an additional 2,338 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Trading Down 0.2 %

Shares of STT stock opened at $99.44 on Monday. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $29.15 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.12 and a beta of 1.43. The firm has a fifty day moving average of $98.53 and a 200-day moving average of $91.76.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm posted $2.04 EPS. On average, equities research analysts forecast that State Street Co. will post 9.6 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio is currently 36.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on STT. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Morgan Stanley reduced their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Wells Fargo & Company boosted their target price on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $100.73.

Insider Buying and Selling

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the transaction, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

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.