State Street Co. (NYSE:STT) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of State Street Co. (NYSE:STT) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,321 shares of the asset manager’s stock after purchasing an additional 535 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in State Street were worth $2,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC purchased a new stake in State Street in the 2nd quarter worth $27,000. Coastline Trust Co purchased a new stake in shares of State Street during the third quarter worth about $44,000. Capital Performance Advisors LLP acquired a new position in shares of State Street during the 3rd quarter worth about $54,000. Versant Capital Management Inc lifted its stake in State Street by 37.0% in the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock valued at $72,000 after buying an additional 197 shares in the last quarter. Finally, Tobam acquired a new stake in State Street in the 3rd quarter worth about $77,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Stock Up 1.1 %

NYSE:STT opened at $95.45 on Wednesday. The firm has a market capitalization of $27.98 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43. State Street Co. has a 52 week low of $70.20 and a 52 week high of $101.91. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock has a 50 day moving average of $97.51 and a 200-day moving average of $89.20.

State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter last year, the business earned $1.93 earnings per share. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. Analysts predict that State Street Co. will post 8.42 EPS for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 annualized dividend and a yield of 3.18%. State Street’s payout ratio is presently 48.03%.

Wall Street Analysts Forecast Growth

STT has been the subject of several research reports. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Barclays upped their target price on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research note on Friday, December 20th. The Goldman Sachs Group upped their price objective on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Truist Financial started coverage on shares of State Street in a research note on Tuesday, January 7th. They issued a “hold” rating and a $106.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $100.33.

Insider Buying and Selling at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value 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 approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John Plansky sold 13,859 shares of State Street stock in a transaction on Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the sale, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is currently owned by corporate insiders.

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.