State Street Co. (NYSE:STT) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. trimmed its holdings in shares of State Street Co. (NYSE:STT) by 12.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,594 shares of the asset manager’s stock after selling 6,100 shares during the quarter. Valley Wealth Managers Inc.’s holdings in State Street were worth $4,377,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in State Street during the fourth quarter worth about $426,000. Venturi Wealth Management LLC increased its stake in State Street by 60.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,114 shares of the asset manager’s stock worth $109,000 after purchasing an additional 418 shares during the period. D.A. Davidson & CO. increased its stake in State Street by 4.0% during the fourth quarter. D.A. Davidson & CO. now owns 126,971 shares of the asset manager’s stock worth $12,462,000 after purchasing an additional 4,907 shares during the period. CIBC Asset Management Inc increased its stake in State Street by 0.9% during the fourth quarter. CIBC Asset Management Inc now owns 51,500 shares of the asset manager’s stock worth $5,055,000 after purchasing an additional 444 shares during the period. Finally, Sanctuary Advisors LLC increased its stake in State Street by 6.6% during the fourth quarter. Sanctuary Advisors LLC now owns 15,666 shares of the asset manager’s stock worth $1,602,000 after purchasing an additional 966 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.31% of the company’s stock.

State Street Price Performance

Shares of NYSE STT opened at $99.16 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The stock has a 50 day moving average of $98.59 and a two-hundred day moving average of $92.29. The stock has a market cap of $29.07 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.12 and a beta of 1.43.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the business earned $2.04 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, research analysts forecast that State Street Co. will post 9.6 earnings per share for the current year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Wall Street Analyst Weigh In

STT has been the topic of a number of recent research reports. Truist Financial cut their price target on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Wells Fargo & Company boosted their price target on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research report on Friday. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and a consensus target price of $100.73.

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.