Consilium Wealth Advisory LLC Purchases New Stake in State Street Co. (NYSE:STT)

Consilium Wealth Advisory LLC purchased a new stake in shares of State Street Co. (NYSE:STT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,076 shares of the asset manager’s stock, valued at approximately $1,087,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new stake in State Street during the 4th quarter valued at $203,000. Mn Services Vermogensbeheer B.V. raised its holdings in State Street by 1.7% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 120,319 shares of the asset manager’s stock valued at $11,809,000 after buying an additional 2,000 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in State Street during the 4th quarter valued at $61,000. Carlson Capital L.P. bought a new position in State Street in the 4th quarter worth $422,000. Finally, DMKC Advisory Services LLC bought a new position in State Street in the 4th quarter worth $2,079,000. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Performance

NYSE STT opened at $97.29 on Thursday. The business’s 50-day moving average price is $98.52 and its 200 day moving average price is $93.32. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The company has a market capitalization of $28.07 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business posted $2.04 EPS. On average, research analysts predict that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.12%. State Street’s dividend payout ratio (DPR) is 36.89%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $103.00 price objective (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Barclays lifted their price objective on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Finally, StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, State Street currently has an average rating of “Hold” and an average price target of $100.73.

Insider Activity

In related news, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. 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.