Ferguson Wellman Capital Management Inc. Buys 27,599 Shares of State Street Co. (NYSE:STT)

Ferguson Wellman Capital Management Inc. boosted its position in shares of State Street Co. (NYSE:STT - Free Report) by 2.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,092,439 shares of the asset manager's stock after purchasing an additional 27,599 shares during the quarter. State Street comprises about 1.9% of Ferguson Wellman Capital Management Inc.'s holdings, making the stock its 16th biggest holding. Ferguson Wellman Capital Management Inc. owned 0.38% of State Street worth $97,806,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of State Street during the fourth quarter valued at $42,000. Coppell Advisory Solutions LLC boosted its position 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 valued at $42,000 after buying an additional 412 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in shares of State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after buying an additional 311 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new stake in shares of State Street during the fourth quarter valued at $49,000. Finally, MV Capital Management Inc. boosted its position 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 valued at $45,000 after buying an additional 251 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Evercore ISI dropped their price objective on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Wells Fargo & Company cut their price target on State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. The Goldman Sachs Group set a $98.00 price target on State Street and gave the company a "buy" rating in a research note on Thursday, April 17th. Cfra Research cut State Street from a "moderate buy" rating to a "hold" rating in a research report on Thursday, May 29th. Finally, Wall Street Zen cut State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $102.54.

State Street Price Performance

NYSE STT traded up $0.23 during trading hours on Thursday, reaching $97.53. The company's stock had a trading volume of 1,476,748 shares, compared to its average volume of 2,105,948. The firm's 50-day moving average price is $90.37 and its 200-day moving average price is $94.09. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The company has a market capitalization of $27.81 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 1.11 and a beta of 1.44.

State Street (NYSE:STT - Get Free Report) last posted its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same period last year, the firm posted $1.69 earnings per share. On average, equities research analysts predict that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be issued a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.12%. State Street's dividend payout ratio (DPR) is presently 34.12%.

Insider Transactions at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the sale, the chief accounting officer now directly owns 7,354 shares in the company, valued at $667,154.88. The trade was a 15.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.