John G Ullman & Associates Inc. Buys 5,100 Shares of State Street Co. (NYSE:STT)

John G Ullman & Associates Inc. grew its stake in State Street Co. (NYSE:STT) by 12.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,810 shares of the asset manager’s stock after acquiring an additional 5,100 shares during the period. John G Ullman & Associates Inc.’s holdings in State Street were worth $3,626,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CVA Family Office LLC bought a new position in shares of State Street during the fourth quarter valued at approximately $27,000. Venturi Wealth Management LLC boosted its stake in State Street by 92.5% in the fourth quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in State Street in the fourth quarter valued at approximately $35,000. Covestor Ltd boosted its stake in State Street by 69.2% in the first quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 234 shares in the last quarter. Finally, State of Wyoming boosted its stake in State Street by 51.3% in the second quarter. State of Wyoming now owns 619 shares of the asset manager’s stock valued at $45,000 after acquiring an additional 210 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other State Street news, EVP Anthony Bisegna sold 4,258 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $73.64, for a total transaction of $313,559.12. Following the completion of the transaction, the executive vice president now owns 23,328 shares in the company, valued at approximately $1,717,873.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Anthony Bisegna sold 4,258 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $73.64, for a total value of $313,559.12. Following the transaction, the executive vice president now directly owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the transaction, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The disclosure for this sale can be found here. Insiders sold 18,864 shares of company stock worth $1,390,597 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Evercore ISI raised their target price 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. raised their price target on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th. Bank of America reaffirmed an “underperform” rating and issued a $81.00 price target on shares of State Street in a report on Thursday, January 4th. The Goldman Sachs Group raised shares of State Street from a “neutral” rating to a “buy” rating and raised their target price for the stock from $69.00 to $92.00 in a report on Wednesday, January 3rd. Finally, Barclays raised their target price on shares of State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $84.04.

State Street Stock Up 0.5 %

STT traded up $0.33 during trading hours on Friday, hitting $73.37. 2,973,789 shares of the company’s stock were exchanged, compared to its average volume of 2,272,854. State Street Co. has a 12-month low of $62.78 and a 12-month high of $79.90. The firm has a 50 day moving average of $73.99 and a 200 day moving average of $72.37. The firm has a market cap of $22.15 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90.

State Street (NYSE:STT) last announced its earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the firm earned $2.07 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. Analysts predict that State Street Co. will post 7.91 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s dividend payout ratio (DPR) is presently 51.69%.

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.