Kingsview Wealth Management LLC Purchases 211 Shares of State Street Co. (NYSE:STT)

Kingsview Wealth Management LLC boosted its position in shares of State Street Co. (NYSE:STT) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,667 shares of the asset manager’s stock after buying an additional 211 shares during the period. Kingsview Wealth Management LLC’s holdings in State Street were worth $262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC raised its position in State Street by 1.4% during the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock valued at $986,000 after purchasing an additional 138 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in State Street by 2.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,073 shares of the asset manager’s stock valued at $3,148,000 after purchasing an additional 656 shares during the period. Adero Partners LLC raised its position in State Street by 3.6% during the fourth quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 100 shares during the period. Bleakley Financial Group LLC raised its position in State Street by 7.6% during the fourth quarter. Bleakley Financial Group LLC now owns 7,596 shares of the asset manager’s stock valued at $746,000 after purchasing an additional 539 shares during the period. Finally, Choreo LLC raised its position in State Street by 73.3% during the fourth quarter. Choreo LLC now owns 32,880 shares of the asset manager’s stock valued at $3,231,000 after purchasing an additional 13,902 shares during the period. 87.44% of the stock is owned by institutional investors.

State Street Stock Up 0.1 %

Shares of NYSE STT opened at $99.16 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $29.07 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The stock’s fifty day simple moving average is $98.57 and its two-hundred day simple moving average is $92.10. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.04 EPS. As a group, analysts expect that State Street Co. will post 9.6 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 annualized dividend and a yield of 3.07%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company upped their price objective on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. Morgan Stanley reduced their price target on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 price target (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Truist Financial reduced their price target on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Finally, Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $100.73.

Insider Buying and Selling at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

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.