XML Financial LLC Invests $229,000 in State Street Co. (NYSE:STT)

XML Financial LLC acquired a new stake in State Street Co. (NYSE:STT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,332 shares of the asset manager’s stock, valued at approximately $229,000.

Several other hedge funds have also added to or reduced their stakes in the business. Coastline Trust Co acquired a new position in shares of State Street in the third quarter valued at approximately $44,000. Friedenthal Financial acquired a new position in State Street in the 4th quarter worth $49,000. Capital Performance Advisors LLP acquired a new position in State Street in the 3rd quarter worth $54,000. Versant Capital Management Inc increased its holdings in State Street by 37.0% during the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock worth $72,000 after purchasing an additional 197 shares in the last quarter. Finally, Tobam bought a new stake in shares of State Street in the third quarter valued at about $77,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Up 0.4 %

Shares of NYSE STT opened at $97.58 on Friday. The company has a market cap of $28.61 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 1.07 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 Co. has a 12 month low of $70.20 and a 12 month high of $101.91. The stock has a 50-day moving average price of $97.86 and a two-hundred day moving average price of $90.13.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3,267,560 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% compared to the same quarter last year. During the same period in the prior year, the company earned $2.04 EPS. As a group, analysts forecast that State Street Co. will post 9.57 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently disclosed 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 was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.12%. State Street’s dividend payout ratio is currently 36.89%.

Insider Buying and Selling at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s 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 transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $103.00 price objective (down from $104.00) on shares of State Street in a report on Wednesday. Truist Financial lowered their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday. Wells Fargo & Company raised their target price on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. Evercore ISI boosted their price target on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Barclays increased their price target on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, State Street presently has an average rating of “Hold” and an average target price of $100.73.

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.