HighPoint Advisor Group LLC Makes New $595,000 Investment in State Street Co. (NYSE:STT)

HighPoint Advisor Group LLC purchased a new position in State Street Co. (NYSE:STT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,870 shares of the asset manager’s stock, valued at approximately $595,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AEGON ASSET MANAGEMENT UK Plc purchased a new position in State Street in the 4th quarter worth approximately $45,687,000. Crestwood Advisors Group LLC grew its stake in State Street by 11.0% in the 3rd quarter. Crestwood Advisors Group LLC now owns 83,069 shares of the asset manager’s stock worth $5,562,000 after buying an additional 8,202 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in State Street by 3.7% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 484,411 shares of the asset manager’s stock worth $37,522,000 after buying an additional 17,270 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of State Street by 298.6% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 37,888 shares of the asset manager’s stock valued at $2,935,000 after purchasing an additional 28,382 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of State Street by 4.9% in the 4th quarter. Federated Hermes Inc. now owns 270,342 shares of the asset manager’s stock valued at $20,941,000 after purchasing an additional 12,594 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Up 0.9 %

Shares of NYSE STT opened at $72.37 on Wednesday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.90. State Street Co. has a 12 month low of $62.78 and a 12 month high of $79.90. The firm has a market capitalization of $21.80 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.23 and a beta of 1.47. The firm has a fifty day simple moving average of $74.49 and a two-hundred day simple moving average of $74.73.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate of $1.48 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.06 billion. Equities analysts expect that State Street Co. will post 7.94 earnings per share for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Monday, July 1st will be issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.76 annualized dividend and a yield of 3.81%. State Street’s dividend payout ratio (DPR) is presently 51.69%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Argus upped their price objective on shares of State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, April 15th. UBS Group upped their price objective on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Evercore ISI upped their price objective on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. upped their price objective on shares of State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 price objective on shares of State Street in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $84.04.

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.