SVB Wealth LLC Has $2.26 Million Stake in State Street Co. (NYSE:STT)

SVB Wealth LLC lessened its holdings in State Street Co. (NYSE:STT) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,165 shares of the asset manager’s stock after selling 918 shares during the quarter. SVB Wealth LLC’s holdings in State Street were worth $2,259,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the business. CVA Family Office LLC bought a new position in shares of State Street during the fourth quarter valued at $27,000. Venturi Wealth Management LLC boosted its holdings in shares of State Street by 92.5% in the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after acquiring an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in State Street during the 4th quarter valued at $35,000. State of Wyoming grew its holdings in shares of State Street by 51.3% during the second quarter. State of Wyoming now owns 619 shares of the asset manager’s stock worth $45,000 after purchasing an additional 210 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of State Street by 69.2% in the first quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock valued at $50,000 after buying an additional 234 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at State Street

In related news, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the transaction, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the completion of the sale, the executive vice president now directly owns 17,737 shares in the company, valued at approximately $1,294,801. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the sale, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold a total of 18,864 shares of company stock valued at $1,390,597 in the last 90 days. 0.31% of the stock is owned by corporate insiders.

State Street Stock Down 0.3 %

State Street stock opened at $72.81 on Thursday. State Street Co. has a twelve month low of $62.78 and a twelve month high of $79.90. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The company’s 50-day moving average price is $73.97 and its two-hundred day moving average price is $72.37. The stock has a market cap of $21.98 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.30 and a beta of 1.52.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.95 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.07 earnings per share. As a group, analysts expect that State Street Co. will post 7.91 EPS for the current year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s payout ratio is 51.69%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday. Evercore ISI raised their price target on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Barclays upped their price objective on State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. boosted their target price on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Finally, Royal Bank of Canada lifted their price objective on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, State Street has an average rating of “Hold” and a consensus target price of $84.04.

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.