Whipplewood Advisors LLC Boosts Holdings in State Street Co. (NYSE:STT)

Whipplewood Advisors LLC grew its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 3,431.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,003 shares of the asset manager's stock after acquiring an additional 21,380 shares during the quarter. Whipplewood Advisors LLC's holdings in State Street were worth $1,970,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in STT. Brighton Jones LLC purchased a new position in shares of State Street in the fourth quarter worth $296,000. Caprock Group LLC increased its stake in shares of State Street by 4.4% in the fourth quarter. Caprock Group LLC now owns 13,215 shares of the asset manager's stock worth $1,297,000 after buying an additional 556 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of State Street by 7.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,767 shares of the asset manager's stock worth $860,000 after buying an additional 643 shares during the period. SYM FINANCIAL Corp purchased a new position in shares of State Street in the fourth quarter worth $244,000. Finally, Greenleaf Trust increased its stake in shares of State Street by 2.3% in the fourth quarter. Greenleaf Trust now owns 16,781 shares of the asset manager's stock worth $1,647,000 after buying an additional 384 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Stock Up 2.2%

Shares of STT stock traded up $2.15 during mid-day trading on Friday, reaching $98.63. 880,575 shares of the company's stock traded hands, compared to its average volume of 2,121,500. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The company has a market cap of $28.13 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.11 and a beta of 1.45. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company's 50-day moving average price is $89.43 and its 200-day moving average price is $94.04.

State Street (NYSE:STT - Get Free Report) last announced its earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS 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 for the quarter, compared to analysts' expectations of $3.30 billion. During the same quarter in the previous year, the business posted $1.69 EPS. On average, equities analysts expect that State Street Co. 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 will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Tuesday, July 1st. State Street's dividend payout ratio (DPR) is presently 34.12%.

Analyst Ratings Changes

Several brokerages recently commented on STT. Barclays decreased their target price on shares of State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Keefe, Bruyette & Woods decreased their target price on shares of State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Citigroup cut their price target on shares of State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Morgan Stanley set a $110.00 price target on shares of State Street and gave the company an "overweight" rating in a report on Tuesday. Finally, Wall Street Zen cut shares of State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $102.54.

Insider Activity

In other news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the transaction, the chief accounting officer now owns 7,354 shares of the company's stock, valued at $667,154.88. The trade was a 15.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company's stock.

About State Street

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.