Wealth Enhancement Advisory Services LLC Acquires 19,377 Shares of State Street Corporation (NYSE:STT)

Wealth Enhancement Advisory Services LLC raised its holdings in State Street Corporation (NYSE:STT - Free Report) by 58.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,383 shares of the asset manager's stock after buying an additional 19,377 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in State Street were worth $4,690,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in STT. Kohmann Bosshard Financial Services LLC bought a new stake in shares of State Street in the 4th quarter worth approximately $42,000. Coppell Advisory Solutions LLC lifted its stake in shares of 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. MV Capital Management Inc. lifted its stake in shares of 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 purchasing an additional 251 shares during the period. Loomis Sayles & Co. L P lifted its stake in shares of State Street by 187.3% in the 4th 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 during the period. Finally, Minot DeBlois Advisors LLC purchased a new position in shares of State Street in the 4th quarter valued at approximately $49,000. 87.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on STT shares. Wall Street Zen cut State Street from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. The Goldman Sachs Group set a $98.00 target price on State Street and gave the company a "buy" rating in a research note on Thursday, April 17th. Evercore ISI lowered their target price on State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Cfra Research cut State Street from a "moderate buy" rating to a "hold" rating in a research note on Thursday, May 29th. Finally, Citigroup lowered their target price on State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $102.54.

Insiders Place Their Bets

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction 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. This trade represents a 15.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.29% of the company's stock.

State Street Stock Up 0.6%

STT stock traded up $0.65 on Friday, reaching $106.02. 2,043,244 shares of the company traded hands, compared to its average volume of 2,108,865. State Street Corporation has a one year low of $72.65 and a one year high of $106.06. 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 company has a market cap of $30.24 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 1.24 and a beta of 1.45. The firm has a fifty day simple moving average of $95.40 and a 200-day simple moving average of $94.16.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates 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 company earned $1.69 EPS. Research analysts anticipate that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Tuesday, July 1st. State Street's payout ratio is 34.12%.

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.