State Street Corporation $STT Shares Purchased by Vest Financial LLC

Key Points

• Vest Financial LLC increased its stake in State Street by 39.1% in Q4 to 453,872 shares (about 0.16% of the company) worth roughly $58.6 million after acquiring an additional 127,528 shares.
• State Street topped expectations with quarterly EPS of $2.84 (vs. $2.64) and revenue of $3.80B (up 15.6% YoY), and analysts have grown more positive—MarketBeat shows an average rating of Moderate Buy with an average price target of $154 and several firms raising targets above $155.

Vest Financial LLC grew its position in State Street Corporation (NYSE:STT - Free Report) by 39.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 453,872 shares of the asset manager's stock after acquiring an additional 127,528 shares during the quarter. Vest Financial LLC owned about 0.16% of State Street worth $58,554,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Certuity LLC boosted its holdings in shares of State Street by 15.7% in the fourth quarter. Certuity LLC now owns 2,577 shares of the asset manager's stock valued at $333,000 after acquiring an additional 350 shares during the period. Torren Management LLC acquired a new stake in shares of State Street in the fourth quarter valued at approximately $184,000. M&T Bank Corp boosted its holdings in shares of State Street by 4.5% in the fourth quarter. M&T Bank Corp now owns 78,879 shares of the asset manager's stock valued at $10,176,000 after acquiring an additional 3,405 shares during the period. Anchyra Partners LLC acquired a new stake in shares of State Street in the fourth quarter valued at approximately $673,000. Finally, Aprio Wealth Management LLC acquired a new stake in shares of State Street in the fourth quarter valued at approximately $373,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STT. Wall Street Zen raised State Street from a "sell" rating to a "hold" rating in a report on Saturday, January 17th. Royal Bank Of Canada increased their price objective on State Street from $135.00 to $155.00 and gave the company a "sector perform" rating in a report on Monday, April 20th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of State Street in a report on Monday, April 20th. Barclays set a $165.00 price target on State Street in a report on Monday, April 20th. Finally, Argus increased their price target on State Street from $140.00 to $168.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, State Street presently has an average rating of "Moderate Buy" and an average price target of $154.00.

State Street Price Performance

Shares of NYSE STT opened at $153.98 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.61. The stock has a fifty day moving average price of $131.33 and a 200 day moving average price of $126.54. State Street Corporation has a 1-year low of $85.68 and a 1-year high of $156.18. The company has a market cap of $42.66 billion, a PE ratio of 15.62, a P/E/G ratio of 0.83 and a beta of 1.37.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.20. State Street had a return on equity of 14.22% and a net margin of 13.47%.The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the company earned $2.04 earnings per share. The company's revenue for the quarter was up 15.6% on a year-over-year basis. Sell-side analysts forecast that State Street Corporation will post 12.26 EPS for the current year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st were given a $0.84 dividend. The ex-dividend date was Wednesday, April 1st. This represents a $3.36 annualized dividend and a yield of 2.2%. State Street's dividend payout ratio is presently 34.08%.

Insiders Place Their Bets

In other State Street news, EVP Michael L. Richards sold 3,000 shares of the stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the transaction, the executive vice president owned 43,522 shares in the company, valued at approximately $6,697,600.58. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Mostapha Tahiri sold 9,611 shares of the stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $152.93, for a total value of $1,469,810.23. Following the completion of the transaction, the chief operating officer owned 64,642 shares of the company's stock, valued at $9,885,701.06. The trade was a 12.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 28,711 shares of company stock worth $3,933,032. 0.27% of the stock is owned by corporate insiders.

State Street 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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