Raymond James Trust N.A. Sells 702 Shares of State Street Co. (NYSE:STT)

Raymond James Trust N.A. reduced its holdings in shares of State Street Co. (NYSE:STT) by 21.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,636 shares of the asset manager’s stock after selling 702 shares during the quarter. Raymond James Trust N.A.’s holdings in State Street were worth $204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of STT. Blair William & Co. IL lifted its holdings in shares of State Street by 14.3% during the first quarter. Blair William & Co. IL now owns 17,756 shares of the asset manager’s stock valued at $1,547,000 after purchasing an additional 2,216 shares in the last quarter. Sei Investments Co. lifted its holdings in State Street by 3.8% in the first quarter. Sei Investments Co. now owns 280,353 shares of the asset manager’s stock valued at $24,436,000 after acquiring an additional 10,187 shares during the period. Prudential PLC bought a new position in State Street in the first quarter valued at about $812,000. Cetera Investment Advisers lifted its holdings in State Street by 16.5% in the first quarter. Cetera Investment Advisers now owns 23,170 shares of the asset manager’s stock valued at $2,019,000 after acquiring an additional 3,276 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in State Street by 0.4% in the first quarter. Vanguard Group Inc. now owns 34,410,077 shares of the asset manager’s stock valued at $2,997,806,000 after acquiring an additional 146,048 shares during the period. 87.44% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Anthony Bisegna sold 4,258 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $73.64, for a total value of $313,559.12. Following the completion of the sale, the executive vice president now directly owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The disclosure for this sale can be found here. Insiders sold 18,864 shares of company stock valued at $1,390,597 in the last ninety days. Insiders own 0.34% of the company’s stock.

State Street Stock Performance

NYSE STT opened at $76.88 on Thursday. The stock has a market capitalization of $23.21 billion, a PE ratio of 14.00, a P/E/G ratio of 1.32 and a beta of 1.52. The business has a 50 day simple moving average of $73.42 and a two-hundred day simple moving average of $71.68. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.55 and a quick ratio of 0.55. State Street Co. has a 1-year low of $62.78 and a 1-year high of $81.37.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.21. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.95 billion. State Street had a return on equity of 11.86% and a net margin of 10.59%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 EPS. On average, research analysts predict that State Street Co. will post 7.83 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Monday, April 1st will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, March 28th. State Street’s payout ratio is 50.27%.

Analyst Ratings Changes

A number of analysts have commented on STT shares. Morgan Stanley upped their price target on State Street from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Barclays increased their target price on State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada increased their target price on State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. The Goldman Sachs Group upgraded State Street from a “neutral” rating to a “buy” rating and increased their target price for the stock from $69.00 to $92.00 in a research report on Wednesday, January 3rd. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $83.00 target price on shares of State Street in a research report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $81.83.

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; 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.