Avior Wealth Management LLC Sells 11,396 Shares of State Street Corporation (NYSE:STT)

Avior Wealth Management LLC decreased its position in shares of State Street Corporation (NYSE:STT - Free Report) by 95.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 506 shares of the asset manager's stock after selling 11,396 shares during the quarter. Avior Wealth Management LLC's holdings in State Street were worth $45,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new stake in State Street during the 4th quarter valued at $42,000. Coppell Advisory Solutions LLC raised its stake 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 purchasing an additional 412 shares in the last quarter. Loomis Sayles & Co. L P raised its stake 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 purchasing an additional 311 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new stake in State Street in the fourth quarter worth about $49,000. Finally, MV Capital Management Inc. grew its position in State Street by 98.4% in the 1st 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 in the last quarter. Institutional investors own 87.44% of the company's stock.

State Street Trading Up 1.7%

State Street stock traded up $1.71 during midday trading on Tuesday, reaching $102.95. The stock had a trading volume of 2,531,443 shares, compared to its average volume of 2,122,180. State Street Corporation has a twelve month low of $71.96 and a twelve month high of $103.99. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market cap of $29.36 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.18 and a beta of 1.44. The firm's fifty day simple moving average is $93.92 and its two-hundred day simple moving average is $94.09.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, topping the consensus estimate of $1.98 by $0.06. The business had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.30 billion. State Street had a return on equity of 12.79% and a net margin of 12.85%. During the same quarter last year, the firm posted $1.69 earnings per share. Equities analysts anticipate that State Street Corporation 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 2.95%. State Street's dividend payout ratio is 34.12%.

Wall Street Analyst Weigh In

STT has been the subject of a number of research analyst reports. Morgan Stanley set a $110.00 price target on shares of State Street and gave the stock an "overweight" rating in a research note on Tuesday, June 3rd. Barclays decreased their price target on State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Cfra Research downgraded State Street from a "moderate buy" rating to a "hold" rating in a research note on Thursday, May 29th. Truist Financial upgraded State Street from a "hold" rating to a "buy" rating and upped their price objective for the company from $85.00 to $112.00 in a report on Wednesday, May 28th. Finally, Wells Fargo & Company lowered their target price on State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, State Street presently has a consensus rating of "Hold" and a consensus price target of $102.54.

Insider Transactions at State Street

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the business's stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 7,354 shares of the company's stock, valued at approximately $667,154.88. The trade was a 15.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.

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.