Beacon Harbor Wealth Advisors Inc. Invests $6.82 Million in State Street Corporation $STT

Key Points

• Beacon Harbor Wealth Advisors opened a new position in State Street, buying 52,892 shares worth about $6.82 million, making STT 1.5% of its portfolio and its 27th largest holding.
• State Street beat Q4 estimates with $2.97 EPS versus $2.82 expected and revenue of $3.67 billion (up 7.5% year-over-year), and analysts forecast roughly 9.68 EPS for the current year.
• The company declared a quarterly dividend of $0.84 per share (annualized $3.36, ~2.4% yield), with an ex-dividend date of April 1 and payment on April 13.

Beacon Harbor Wealth Advisors Inc. bought a new position in State Street Corporation (NYSE:STT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 52,892 shares of the asset manager's stock, valued at approximately $6,824,000. State Street comprises 1.5% of Beacon Harbor Wealth Advisors Inc.'s portfolio, making the stock its 27th biggest holding.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Regents of The University of California bought a new position in State Street in the 3rd quarter valued at approximately $324,576,000. Two Sigma Investments LP raised its holdings in State Street by 261.0% in the 3rd quarter. Two Sigma Investments LP now owns 1,217,802 shares of the asset manager's stock valued at $141,277,000 after buying an additional 880,507 shares during the last quarter. First Trust Advisors LP raised its holdings in State Street by 36.8% in the 3rd quarter. First Trust Advisors LP now owns 2,747,646 shares of the asset manager's stock valued at $318,754,000 after buying an additional 738,456 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in State Street in the 3rd quarter valued at approximately $62,092,000. Finally, Qube Research & Technologies Ltd raised its holdings in State Street by 157.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 863,666 shares of the asset manager's stock valued at $100,194,000 after buying an additional 528,246 shares during the last quarter. Institutional investors own 87.44% of the company's stock.

State Street Stock Up 0.6%

State Street stock opened at $139.37 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. State Street Corporation has a 52-week low of $75.50 and a 52-week high of $139.90. The firm has a 50 day moving average price of $127.54 and a two-hundred day moving average price of $124.01. The firm has a market cap of $38.61 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.91 and a beta of 1.37.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.15. State Street had a net margin of 13.02% and a return on equity of 13.46%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the business earned $2.60 EPS. The company's revenue was up 7.5% compared to the same quarter last year. Equities analysts predict that State Street Corporation will post 9.68 EPS for the current year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.84 per share. The ex-dividend date is Wednesday, April 1st. This represents a $3.36 annualized dividend and a yield of 2.4%. State Street's dividend payout ratio (DPR) is presently 35.71%.

Insider Transactions at State Street

In other State Street news, EVP John Plansky sold 16,100 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the completion of the transaction, the executive vice president owned 56,162 shares in the company, valued at approximately $6,982,059.84. This trade represents a 22.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company's stock.

Key Headlines Impacting State Street

Here are the key news stories impacting State Street this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target to $157 and kept an "outperform" rating, giving formal analyst momentum and a clear upside signal to investors. Keefe Bruyette & Woods raises price target to $157
• Positive Sentiment: Zacks says STT is a top dividend stock right now, highlighting yield and payout durability that can attract income-focused investors and support multiple expansion. State Street Corporation (STT) is a Top Dividend Stock Right Now: Should You Buy?
• Positive Sentiment: Another Zacks piece flags that State Street has the ingredients for an earnings beat (momentum in revenue/fee trends), which can lift short-term sentiment ahead of future quarterly results. State Street Corporation (STT) Earnings Expected to Grow: Should You Buy?
• Positive Sentiment: State Street expanded a long-running partnership with Thornburg to support new ETF share classes — a direct business win that can increase custody/administration fee flows as ETF assets scale. State Street Expands Long Partnership With Thornburg to Support New ETF Share Classes
• Neutral Sentiment: State Street analysts published a bullish gold outlook (gold above $5,000 long term); informative for macro strategy but indirect for STT’s fees/earnings. State Street sees gold pushing above $5,000 despite near-term headwinds
• Neutral Sentiment: TipRanks notes State Street Group ceased to be a substantial holder in SRG Global (AU); likely an isolated portfolio change with limited impact on STT fundamentals. State Street Group Ceases to Be Substantial Holder in SRG Global
• Neutral Sentiment: A Barron's piece on copper/miners is market color for commodity investors but does not directly affect State Street’s operating outlook. Copper Is a ‘Peace' Commodity. Own These Miners in a Market Recovery.

Analyst Upgrades and Downgrades

STT has been the subject of a number of research reports. The Goldman Sachs Group reiterated a "buy" rating on shares of State Street in a report on Tuesday, January 6th. Morgan Stanley dropped their price objective on shares of State Street from $168.00 to $164.00 and set an "overweight" rating for the company in a report on Tuesday, January 20th. Bank of America upgraded shares of State Street from an "underperform" rating to a "neutral" rating and set a $143.00 price objective for the company in a report on Monday, April 6th. TD Cowen reiterated a "buy" rating on shares of State Street in a report on Wednesday, January 7th. Finally, Wall Street Zen upgraded shares of State Street from a "sell" rating to a "hold" rating in a report on Saturday, January 17th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $140.50.

State Street Company Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.

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