Beaton Management Co. Inc. Has $1.75 Million Position in State Street Co. (NYSE:STT)

Beaton Management Co. Inc. lowered its stake in State Street Co. (NYSE:STT) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,870 shares of the asset manager’s stock after selling 200 shares during the period. Beaton Management Co. Inc.’s holdings in State Street were worth $1,754,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Adero Partners LLC increased its stake in shares of State Street by 3.6% in the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock valued at $285,000 after buying an additional 100 shares during the period. Peapack Gladstone Financial Corp increased its position in State Street by 2.0% in the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock worth $467,000 after purchasing an additional 103 shares during the period. Apollon Wealth Management LLC raised its holdings in State Street by 1.4% during the 4th quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock worth $986,000 after purchasing an additional 138 shares during the last quarter. Empirical Finance LLC lifted its position in State Street by 1.4% during the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock valued at $997,000 after purchasing an additional 158 shares during the period. Finally, ST Germain D J Co. Inc. boosted its stake in shares of State Street by 6.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 2,869 shares of the asset manager’s stock valued at $282,000 after purchasing an additional 180 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on STT shares. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $103.00 price target (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Morgan Stanley dropped their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a report on Friday. Finally, Barclays upped their price target on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $100.73.

State Street Price Performance

Shares of NYSE:STT opened at $99.16 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $29.07 billion, a PE ratio of 12.03, a PEG ratio of 1.12 and a beta of 1.43. The firm has a 50 day moving average of $98.59 and a 200-day moving average of $92.29. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00.

State Street (NYSE:STT) last released its earnings results 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. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.04 earnings per share. On average, equities research analysts predict that State Street Co. will post 9.6 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 annualized dividend and a yield of 3.07%. State Street’s dividend payout ratio is presently 36.89%.

Insider Activity at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by company 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.