Wealthcare Advisory Partners LLC Sells 316 Shares of State Street Co. (NYSE:STT)

Wealthcare Advisory Partners LLC decreased its stake in State Street Co. (NYSE:STT) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 20,319 shares of the asset manager’s stock after selling 316 shares during the period. Wealthcare Advisory Partners LLC’s holdings in State Street were worth $1,994,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STT. KBC Group NV increased its holdings in State Street by 20.5% in the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock worth $6,607,000 after acquiring an additional 12,707 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of State Street by 17.3% in the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock worth $12,124,000 after purchasing an additional 20,183 shares in the last quarter. Ensign Peak Advisors Inc raised its position in shares of State Street by 39.3% in the second quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock valued at $10,794,000 after purchasing an additional 41,180 shares during the period. Banque Cantonale Vaudoise lifted its stake in shares of State Street by 118.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager’s stock valued at $3,775,000 after buying an additional 23,171 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in State Street by 43.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock worth $6,069,000 after buying an additional 20,968 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. The Goldman Sachs Group increased their target price on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley cut their target price on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Truist Financial assumed coverage on State Street in a research report on Tuesday, January 7th. They issued a “hold” rating and a $106.00 price objective on the stock. Finally, Evercore ISI boosted their target price on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $100.33.

State Street Trading Down 3.0 %

STT stock opened at $97.51 on Friday. The company has a market capitalization of $28.58 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.43. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a one year low of $70.20 and a one year high of $101.91. The company’s 50 day moving average price is $97.72 and its two-hundred day moving average price is $89.52.

State Street (NYSE:STT) last issued its earnings results 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 9.87% and a return on equity of 12.02%. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3,267,560 billion. During the same quarter last year, the company earned $2.04 EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. As a group, analysts predict that State Street Co. will post 8.45 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio is presently 48.03%.

Insider Buying and Selling

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction on Monday, November 25th. The shares were 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 of the company’s stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is owned by corporate insiders.

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.