Lake Street Advisors Group LLC Has $301,000 Position in State Street Co. (NYSE:STT)

Lake Street Advisors Group LLC reduced its position in shares of State Street Co. (NYSE:STT) by 10.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,064 shares of the asset manager’s stock after selling 344 shares during the quarter. Lake Street Advisors Group LLC’s holdings in State Street were worth $301,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Albion Financial Group UT purchased a new position in shares of State Street during the 4th quarter valued at $25,000. Y.D. More Investments Ltd boosted its holdings in State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 197 shares during the period. Coastline Trust Co bought a new stake in State Street during the third quarter valued at about $44,000. Friedenthal Financial bought a new stake in State Street during the fourth quarter valued at about $49,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of State Street during the third quarter valued at about $54,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Trading Up 2.0 %

Shares of NYSE:STT opened at $99.45 on Friday. State Street Co. has a 12 month low of $70.20 and a 12 month 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. The company’s fifty day simple moving average is $98.59 and its 200 day simple moving average is $93.51. The firm has a market cap of $28.69 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.11 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 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period last year, the business posted $2.04 earnings per share. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, research analysts forecast that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be paid a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.06%. State Street’s payout ratio is currently 36.89%.

Insider Buying and Selling at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on STT shares. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price target on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. Morgan Stanley decreased their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Finally, StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $100.73.

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.