Wealth Enhancement Advisory Services LLC boosted its position in shares of State Street Co. (NYSE:STT - Free Report) by 14.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,006 shares of the asset manager's stock after buying 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.
A number of other large investors have also recently bought and sold shares of STT. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of State Street by 3.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager's stock worth $44,725,000 after acquiring an additional 14,476 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of State Street by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager's stock worth $184,025,000 after acquiring an additional 10,404 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of State Street by 54.6% in the fourth quarter. Bank of Montreal Can now owns 720,909 shares of the asset manager's stock worth $70,757,000 after acquiring an additional 254,510 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of State Street in the fourth quarter worth about $44,070,000. Finally, Deutsche Bank AG lifted its holdings in shares of State Street by 2.9% in the fourth quarter. Deutsche Bank AG now owns 1,736,708 shares of the asset manager's stock worth $170,458,000 after acquiring an additional 48,464 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.
State Street Stock Up 0.4%
NYSE STT traded up $0.42 during mid-day trading on Thursday, hitting $96.42. The company's stock had a trading volume of 960,904 shares, compared to its average volume of 2,123,965. The company's 50 day simple moving average is $89.10 and its 200 day simple moving average is $94.02. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $27.50 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.11 and a beta of 1.45.
State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $3.30 billion. During the same quarter last year, the firm posted $1.69 EPS. Analysts anticipate that State Street Co. will post 9.68 earnings per share for the current year.
State Street Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.15%. The ex-dividend date is Tuesday, July 1st. State Street's payout ratio is currently 34.12%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on STT shares. Morgan Stanley raised their price objective on shares of State Street from $107.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday. Bank of America raised their price objective on shares of State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a report on Wednesday, April 2nd. Evercore ISI dropped their price objective on shares of State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. Wells Fargo & Company dropped their price objective on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $102.54.
Read Our Latest Stock Analysis on State Street
Insider Activity at State Street
In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total transaction of $117,936.00. Following the transaction, the chief accounting officer now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.
About State Street
(
Free Report)
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.
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