Advisory Services Network LLC Sells 404 Shares of State Street Co. (NYSE:STT)

Advisory Services Network LLC cut its position in shares of State Street Co. (NYSE:STT) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,222 shares of the asset manager’s stock after selling 404 shares during the quarter. Advisory Services Network LLC’s holdings in State Street were worth $1,003,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MML Investors Services LLC raised its holdings in shares of State Street by 6.1% in the third quarter. MML Investors Services LLC now owns 11,236 shares of the asset manager’s stock valued at $994,000 after purchasing an additional 642 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in State Street by 12.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,514 shares of the asset manager’s stock valued at $404,000 after buying an additional 486 shares during the last quarter. Sanctuary Advisors LLC lifted its position in State Street by 6.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 14,700 shares of the asset manager’s stock worth $1,433,000 after buying an additional 860 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of State Street in the 3rd quarter valued at about $1,125,000. Finally, Synovus Financial Corp increased its position in shares of State Street by 10.3% in the third quarter. Synovus Financial Corp now owns 13,321 shares of the asset manager’s stock valued at $1,179,000 after acquiring an additional 1,247 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity

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

State Street Trading Up 0.5 %

Shares of State Street stock opened at $79.41 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a 50-day moving average of $91.04 and a 200-day moving average of $94.03. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The stock has a market cap of $22.92 billion, a PE ratio of 9.64, a PEG ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (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 firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter in the prior year, the business posted $2.04 EPS. The business’s revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts forecast that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were issued a $0.76 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.83%. State Street’s dividend payout ratio is presently 36.89%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Morgan Stanley reduced their price target on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Barclays raised their target price on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Evercore ISI dropped their price target on shares of State Street from $109.00 to $106.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 1st. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, State Street currently has a consensus rating of “Hold” and a consensus target price of $102.43.

About State Street

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.