Wealth Enhancement Advisory Services LLC Buys 4,220 Shares of State Street Co. (NYSE:STT)

Wealth Enhancement Advisory Services LLC boosted its position in shares of State Street Co. (NYSE:STT - Free Report) by 14.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,006 shares of the asset manager's stock after acquiring an additional 4,220 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in State Street were worth $3,240,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Y.D. More Investments Ltd grew its stake in shares of State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after acquiring an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in State Street during the 4th quarter valued at $42,000. Coppell Advisory Solutions LLC boosted its holdings in State Street by 2,942.9% in the 4th 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 during the period. Loomis Sayles & Co. L P grew its position in State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after purchasing an additional 311 shares during the last quarter. Finally, Minot DeBlois Advisors LLC acquired a new stake in State Street in the 4th quarter worth $49,000. 87.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on STT shares. Citigroup cut their price objective on shares of State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Evercore ISI cut their price target on State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. Bank of America raised their price objective on State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 2nd. Wall Street Zen cut State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Finally, Morgan Stanley set a $110.00 target price on State Street and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $102.54.

State Street Price Performance

State Street stock traded up $2.15 during mid-day trading on Friday, hitting $98.63. 880,575 shares of the company were exchanged, compared to its average volume of 2,121,130. The company has a market capitalization of $28.13 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The business has a fifty day moving average of $89.43 and a 200 day moving average of $94.02. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. 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 (NYSE:STT - Get Free Report) last announced its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.30 billion. During the same quarter last year, the company posted $1.69 EPS. As a group, sell-side analysts expect that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Tuesday, July 1st. State Street's payout ratio is 34.12%.

Insider Transactions at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the 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 sale, the chief accounting officer now owns 7,354 shares in the company, valued at approximately $667,154.88. This represents a 15.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.