Bryce Point Capital LLC Acquires New Position in State Street Co. (NYSE:STT)

Bryce Point Capital LLC bought a new position in State Street Co. (NYSE:STT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 5,916 shares of the asset manager’s stock, valued at approximately $581,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Albion Financial Group UT purchased a new position in State Street during the fourth quarter worth approximately $25,000. Y.D. More Investments Ltd raised its holdings in shares of State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in shares of State Street during the 4th quarter valued at about $42,000. Loomis Sayles & Co. L P grew its holdings in shares of State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 311 shares during the period. Finally, Friedenthal Financial acquired a new stake in State Street during the fourth quarter worth about $49,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the sale, the director now owns 100,023 shares of the company’s stock, valued at approximately $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 Stock Up 1.0 %

State Street stock opened at $89.67 on Thursday. The firm has a market capitalization of $25.87 billion, a P/E ratio of 10.88, a P/E/G ratio of 1.11 and a beta of 1.44. 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 Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The stock’s fifty day simple moving average is $94.85 and its 200-day simple moving average is $94.62.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate 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%. State Street’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.04 EPS. As a group, equities analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be paid 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 yield of 3.39%. State Street’s dividend payout ratio is currently 36.89%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on STT. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Bank of America raised their target price on State Street from $98.00 to $99.00 and gave the stock an “underperform” rating in a research note on Wednesday. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research note on Friday, December 20th. Finally, Truist Financial cut their price objective on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $102.07.

State Street Company 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.