Wealth Enhancement Advisory Services LLC Grows Stock Holdings in State Street Corporation (NYSE:STT)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of State Street Corporation (NYSE:STT - Free Report) by 58.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,383 shares of the asset manager's stock after purchasing an additional 19,377 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in State Street were worth $4,690,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of State Street during the 4th quarter worth approximately $42,000. Coppell Advisory Solutions LLC raised its position in State Street by 2,942.9% in 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 during the last quarter. MV Capital Management Inc. boosted its stake 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 purchasing an additional 251 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after buying an additional 311 shares during the period. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of State Street during the fourth quarter worth $49,000. Institutional investors and hedge funds own 87.44% of the company's stock.

State Street Stock Up 1.2%

NYSE:STT traded up $1.22 on Thursday, hitting $105.57. The stock had a trading volume of 2,205,874 shares, compared to its average volume of 2,092,144. State Street Corporation has a 1 year low of $71.96 and a 1 year high of $105.85. The firm's fifty day simple moving average is $94.42 and its two-hundred day simple moving average is $94.16. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market cap of $30.11 billion, a P/E ratio of 11.85, a price-to-earnings-growth ratio of 1.20 and a beta of 1.44.

State Street (NYSE:STT - Get Free Report) last issued its quarterly 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 return on equity of 12.79% and a net margin of 12.85%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same period last year, the business posted $1.69 earnings per share. Analysts predict that State Street Corporation will post 9.68 earnings per share for the current 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 paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Tuesday, July 1st. State Street's payout ratio is 34.12%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods cut their price objective on State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Evercore ISI cut their target price 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. Truist Financial raised shares of State Street from a "hold" rating to a "buy" rating and raised their price objective for the stock from $85.00 to $112.00 in a research report on Wednesday, May 28th. Barclays cut their price objective on shares of State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Finally, Wall Street Zen cut 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 assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $102.54.

Insider Buying and Selling

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 completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by insiders.

State Street Company 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.