Ascent Wealth Partners LLC Has $686,000 Stock Position in State Street Corporation (NYSE:STT)

Ascent Wealth Partners LLC lifted its stake in State Street Corporation (NYSE:STT - Free Report) by 85.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,661 shares of the asset manager's stock after acquiring an additional 3,524 shares during the period. Ascent Wealth Partners LLC's holdings in State Street were worth $686,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in STT. First Pacific Financial bought a new stake in State Street in the 1st quarter valued at $25,000. Larson Financial Group LLC grew its holdings in shares of State Street by 40.8% during the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager's stock worth $36,000 after purchasing an additional 118 shares during the last quarter. Coppell Advisory Solutions LLC grew its holdings in shares of State Street by 2,942.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock worth $42,000 after purchasing an additional 412 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of State Street by 186.7% during the first quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager's stock worth $43,000 after purchasing an additional 310 shares during the last quarter. Finally, MV Capital Management Inc. grew its holdings in shares of State Street by 98.4% during the first quarter. MV Capital Management Inc. now owns 506 shares of the asset manager's stock worth $45,000 after purchasing an additional 251 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

STT has been the topic of several recent research reports. The Goldman Sachs Group raised their price target on State Street from $98.00 to $111.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods dropped their price target on State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Citigroup raised their price target on State Street from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Cfra Research raised State Street from a "hold" rating to a "moderate buy" rating in a research report on Tuesday. Finally, Wells Fargo & Company lifted their target price on State Street from $113.00 to $121.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, State Street has a consensus rating of "Hold" and a consensus price target of $110.25.

State Street Stock Performance

Shares of NYSE STT traded up $2.43 during midday trading on Thursday, hitting $107.46. 2,927,380 shares of the company's stock were exchanged, compared to its average volume of 2,110,516. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.09. State Street Corporation has a 12 month low of $72.81 and a 12 month high of $110.97. The company's 50 day moving average price is $100.75 and its 200 day moving average price is $95.11. The firm has a market capitalization of $30.64 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.21 and a beta of 1.45.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.17. The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.33 billion. State Street had a return on equity of 12.96% and a net margin of 12.59%. The firm's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.15 EPS. As a group, analysts predict that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Wednesday, October 1st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This is an increase from State Street's previous quarterly dividend of $0.76. This represents a $3.36 annualized dividend and a yield of 3.13%. State Street's payout ratio is 34.04%.

Insider Buying and Selling at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the sale, the chief accounting officer directly owned 7,354 shares in the company, valued at approximately $667,154.88. This represents a 15.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% 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.