Inscription Capital LLC Buys 5,557 Shares of State Street Corporation $STT

Inscription Capital LLC boosted its stake in State Street Corporation (NYSE:STT) by 187.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,524 shares of the asset manager’s stock after purchasing an additional 5,557 shares during the quarter. Inscription Capital LLC’s holdings in State Street were worth $989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of STT. Brown Advisory Inc. raised its position in shares of State Street by 0.5% during the 2nd quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock valued at $1,832,000 after buying an additional 93 shares in the last quarter. Global Retirement Partners LLC increased its stake in State Street by 7.7% in the third quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock valued at $171,000 after acquiring an additional 105 shares during the last quarter. Security National Bank of SO Dak increased its stake in State Street by 0.5% in the second quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock valued at $2,289,000 after acquiring an additional 105 shares during the last quarter. Harbour Investments Inc. raised its position in State Street by 11.7% during the second quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock valued at $108,000 after purchasing an additional 106 shares in the last quarter. Finally, McAdam LLC lifted its stake in State Street by 1.7% during the second quarter. McAdam LLC now owns 6,650 shares of the asset manager’s stock worth $707,000 after purchasing an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

In related news, EVP Michael L. Richards sold 1,500 shares of the stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $117.24, for a total value of $175,860.00. Following the completion of the transaction, the executive vice president directly owned 38,626 shares in the company, valued at $4,528,512.24. This trade represents a 3.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Zacks Research lowered State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. BMO Capital Markets assumed coverage on State Street in a research note on Friday, October 3rd. They issued an “outperform” rating and a $130.00 target price for the company. Keefe, Bruyette & Woods lifted their price target on shares of State Street from $132.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Weiss Ratings restated a “buy (b)” rating on shares of State Street in a report on Wednesday, October 8th. Finally, Wells Fargo & Company lifted their target price on shares of State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.31.

State Street Stock Performance

State Street stock opened at $125.25 on Wednesday. State Street Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $137.05. The stock’s 50 day simple moving average is $125.55 and its two-hundred day simple moving average is $117.49. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.61. The stock has a market cap of $34.98 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 0.85 and a beta of 1.43.

State Street (NYSE:STT) last released its earnings results on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.15. State Street had a return on equity of 13.46% and a net margin of 13.02%.The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the business posted $2.60 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, analysts expect that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 12th. Stockholders of record on Friday, January 2nd were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, January 2nd. State Street’s payout ratio is 35.71%.

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.