NorthRock Partners LLC Invests $402,000 in State Street Co. (NYSE:STT)

NorthRock Partners LLC purchased a new position in shares of State Street Co. (NYSE:STT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,091 shares of the asset manager's stock, valued at approximately $402,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STT. Flagship Harbor Advisors LLC bought a new position in shares of State Street in the fourth quarter valued at about $272,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of State Street by 3.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager's stock valued at $44,725,000 after acquiring an additional 14,476 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of State Street by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager's stock valued at $184,025,000 after acquiring an additional 10,404 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of State Street by 11.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager's stock valued at $7,289,000 after acquiring an additional 7,446 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of State Street in the fourth quarter valued at about $395,000. 87.44% of the stock is owned by institutional investors.

State Street Trading Down 0.6%

NYSE STT traded down $0.55 during trading hours on Tuesday, reaching $97.73. The company's stock had a trading volume of 1,262,646 shares, compared to its average volume of 2,148,147. The firm has a fifty day simple moving average of $87.47 and a 200-day simple moving average of $93.86. The stock has a market cap of $27.87 billion, a P/E ratio of 11.86, a P/E/G ratio of 1.11 and a beta of 1.42. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same quarter last year, the business earned $1.69 EPS. Equities analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a $0.76 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.11%. State Street's dividend payout ratio (DPR) is presently 34.12%.

Insiders Place Their Bets

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the transaction, the chief accounting officer now owns 7,354 shares in the company, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.29% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on STT. StockNews.com downgraded shares of State Street from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Wells Fargo & Company reduced their price objective on shares of State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Morgan Stanley reduced their price objective on shares of State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Bank of America increased their price objective on shares of State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 2nd. Finally, Evercore ISI reduced their price objective on shares of State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $102.15.

About State Street

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.