State Street Co. (NYSE:STT) Shares Sold by Total Clarity Wealth Management Inc.

Total Clarity Wealth Management Inc. trimmed its position in State Street Co. (NYSE:STT) by 10.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,627 shares of the asset manager’s stock after selling 784 shares during the period. Total Clarity Wealth Management Inc.’s holdings in State Street were worth $650,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in STT. Creative Planning lifted its stake in shares of State Street by 11.2% during the second quarter. Creative Planning now owns 18,400 shares of the asset manager’s stock worth $1,362,000 after buying an additional 1,857 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of State Street by 5.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,863 shares of the asset manager’s stock worth $878,000 after buying an additional 588 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of State Street during the second quarter worth $1,016,000. Czech National Bank lifted its stake in shares of State Street by 6.0% during the third quarter. Czech National Bank now owns 60,832 shares of the asset manager’s stock worth $5,382,000 after buying an additional 3,424 shares during the period. Finally, Park Avenue Securities LLC lifted its stake in shares of State Street by 5.7% during the third quarter. Park Avenue Securities LLC now owns 4,971 shares of the asset manager’s stock worth $440,000 after buying an additional 267 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now owns 111,042 shares in the company, valued at approximately $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 accessible through this link. Insiders own 0.31% of the company’s stock.

State Street Price Performance

State Street stock opened at $101.61 on Friday. The company’s 50 day simple moving average is $98.42 and its 200-day simple moving average is $91.05. The company has a market capitalization of $29.79 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.13 and a beta of 1.43. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $3.27 billion. During the same period in the prior year, the firm earned $2.04 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities research analysts expect that State Street Co. will post 9.6 earnings per share for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 2.99%. The ex-dividend date was Thursday, January 2nd. State Street’s payout ratio is currently 36.89%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on STT. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research note on Friday, December 20th. Morgan Stanley reduced their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Wells Fargo & Company raised their target price on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Evercore ISI raised their target price on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Truist Financial reduced their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, State Street presently has a consensus rating of “Hold” and an average price target of $100.73.

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.