Janiczek Wealth Management LLC Sells 343 Shares of State Street Co. (NYSE:STT)

Janiczek Wealth Management LLC trimmed its stake in State Street Co. (NYSE:STT) by 11.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,622 shares of the asset manager’s stock after selling 343 shares during the period. Janiczek Wealth Management LLC’s holdings in State Street were worth $192,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in State Street in the fourth quarter worth approximately $184,482,000. Morgan Stanley lifted its stake in State Street by 31.1% in the fourth quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock worth $467,876,000 after acquiring an additional 1,430,237 shares during the period. Ameriprise Financial Inc. lifted its stake in State Street by 10.9% in the first quarter. Ameriprise Financial Inc. now owns 12,370,805 shares of the asset manager’s stock worth $936,377,000 after acquiring an additional 1,213,996 shares during the period. Eaton Vance Management raised its holdings in State Street by 159.8% in the first quarter. Eaton Vance Management now owns 1,750,857 shares of the asset manager’s stock worth $152,535,000 after purchasing an additional 1,077,013 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in State Street by 304.4% in the first quarter. Envestnet Asset Management Inc. now owns 1,325,150 shares of the asset manager’s stock worth $30,763,000 after purchasing an additional 997,506 shares in the last quarter. 89.62% of the stock is currently owned by institutional investors.

State Street Stock Performance

Shares of STT stock traded down $0.54 during trading hours on Friday, reaching $71.85. 6,781,051 shares of the company traded hands, compared to its average volume of 1,792,266. State Street Co. has a 12-month low of $58.62 and a 12-month high of $94.74. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market cap of $22.89 billion, a P/E ratio of 9.71, a P/E/G ratio of 2.35 and a beta of 1.58. The firm has a 50-day moving average price of $70.69 and a 200 day moving average price of $72.63.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, July 14th. The asset manager reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.09. State Street had a return on equity of 12.20% and a net margin of 16.99%. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the firm earned $1.94 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts predict that State Street Co. will post 7.27 earnings per share for the current fiscal year.

State Street Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Monday, October 2nd will be issued a $0.69 dividend. The ex-dividend date of this dividend is Friday, September 29th. This is a boost from State Street’s previous quarterly dividend of $0.63. This represents a $2.76 dividend on an annualized basis and a yield of 3.84%. State Street’s payout ratio is currently 34.05%.

Insider Buying and Selling

In related news, CFO Eric W. Aboaf sold 11,886 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $67.13, for a total value of $797,907.18. Following the transaction, the chief financial officer now directly owns 145,974 shares of the company’s stock, valued at approximately $9,799,234.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on STT shares. Wells Fargo & Company reduced their price target on State Street from $92.00 to $83.00 in a report on Monday, July 17th. JPMorgan Chase & Co. downgraded State Street from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $78.50 to $71.00 in a report on Monday, July 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $75.00 price objective on shares of State Street in a report on Tuesday, September 12th. Bank of America reduced their price objective on State Street from $80.00 to $72.00 in a report on Sunday, July 16th. Finally, UBS Group downgraded State Street from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $90.00 to $72.00 in a report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, State Street presently has an average rating of “Hold” and a consensus target price of $75.75.

State Street Company 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; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.