HighTower Advisors LLC Cuts Stock Holdings in State Street Co. (NYSE:STT)

HighTower Advisors LLC decreased its stake in shares of State Street Co. (NYSE:STT – Get Rating) by 0.7% during the fourth quarter, Holdings Channel reports. The firm owned 43,743 shares of the asset manager’s stock after selling 305 shares during the quarter. HighTower Advisors LLC’s holdings in State Street were worth $3,387,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Kentucky Retirement Systems raised its position in shares of State Street by 0.4% during the 4th quarter. Kentucky Retirement Systems now owns 28,903 shares of the asset manager’s stock valued at $2,242,000 after purchasing an additional 127 shares during the period. CVA Family Office LLC increased its holdings in State Street by 16.5% during the 3rd quarter. CVA Family Office LLC now owns 920 shares of the asset manager’s stock worth $56,000 after purchasing an additional 130 shares during the period. Rossmore Private Capital boosted its position in State Street by 3.1% during the 3rd quarter. Rossmore Private Capital now owns 4,925 shares of the asset manager’s stock valued at $299,000 after acquiring an additional 150 shares in the last quarter. Assetmark Inc. boosted its position in State Street by 4.5% during the 3rd quarter. Assetmark Inc. now owns 3,959 shares of the asset manager’s stock valued at $241,000 after acquiring an additional 170 shares in the last quarter. Finally, United Capital Financial Advisers LLC boosted its position in shares of State Street by 3.7% in the 1st quarter. United Capital Financial Advisers LLC now owns 4,717 shares of the asset manager’s stock worth $411,000 after purchasing an additional 170 shares in the last quarter. 88.41% of the stock is currently owned by institutional investors.

Insider Activity at State Street

In other State Street news, CAO Ian Appleyard sold 6,725 shares of the firm’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $88.42, for a total value of $594,624.50. Following the completion of the sale, the chief accounting officer now owns 14,493 shares in the company, valued at approximately $1,281,471.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other State Street news, CAO Ian Appleyard sold 6,725 shares of the company’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $88.42, for a total transaction of $594,624.50. Following the sale, the chief accounting officer now directly owns 14,493 shares of the company’s stock, valued at $1,281,471.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David C. Phelan sold 15,000 shares of the company’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $86.63, for a total transaction of $1,299,450.00. Following the completion of the transaction, the executive vice president now owns 72,491 shares in the company, valued at $6,279,895.33. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

State Street Stock Performance

Shares of STT opened at $68.00 on Friday. The business’s fifty day moving average price is $72.78 and its 200 day moving average price is $79.23. State Street Co. has a 12-month low of $58.62 and a 12-month high of $94.74. The stock has a market capitalization of $22.88 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 1.33 and a beta of 1.56. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.52 and a quick ratio of 0.52.

State Street (NYSE:STT – Get Rating) last released its quarterly earnings results on Monday, April 17th. The asset manager reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.12). The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.13 billion. State Street had a net margin of 18.73% and a return on equity of 11.96%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $1.59 EPS. Equities research analysts forecast that State Street Co. will post 7.62 EPS for the current year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 13th. Stockholders of record on Monday, July 3rd will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Friday, June 30th. State Street’s payout ratio is 35.29%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on STT. Bank of America lowered their price target on State Street from $84.00 to $80.00 in a research report on Monday, April 17th. UBS Group decreased their price objective on State Street from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, April 4th. Evercore ISI cut their target price on State Street from $80.00 to $75.00 in a research report on Friday, May 12th. Citigroup decreased their price target on shares of State Street from $93.00 to $82.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. Finally, Royal Bank of Canada reduced their price objective on shares of State Street from $85.00 to $80.00 in a research report on Friday, March 24th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $82.21.

State Street Profile

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State Street Corp. engages in the provision of financial services to institutional investors. It operates through the Commercial and Financial, and Commercial Real Estate segments. The company was founded in 1792 and is headquartered in Boston, MA.