Atria Wealth Solutions Inc. Cuts Stock Position in State Street Co. (NYSE:STT)

Atria Wealth Solutions Inc. lowered its position in State Street Co. (NYSE:STT) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,428 shares of the asset manager’s stock after selling 2,112 shares during the period. Atria Wealth Solutions Inc.’s holdings in State Street were worth $3,467,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Caprock Group LLC grew its position in State Street by 7.4% during the 3rd quarter. Caprock Group LLC now owns 4,317 shares of the asset manager’s stock worth $292,000 after purchasing an additional 298 shares during the last quarter. UMB Bank n.a. grew its position in State Street by 14.5% during the 3rd quarter. UMB Bank n.a. now owns 2,926 shares of the asset manager’s stock worth $196,000 after purchasing an additional 371 shares during the last quarter. Czech National Bank grew its position in State Street by 40.7% during the 3rd quarter. Czech National Bank now owns 55,692 shares of the asset manager’s stock worth $3,729,000 after purchasing an additional 16,122 shares during the last quarter. Bfsg LLC purchased a new stake in State Street during the 3rd quarter worth approximately $274,000. Finally, HGK Asset Management Inc. grew its position in State Street by 2.7% during the 3rd quarter. HGK Asset Management Inc. now owns 81,570 shares of the asset manager’s stock worth $5,462,000 after purchasing an additional 2,123 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

STT opened at $73.39 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The firm has a fifty day moving average price of $74.16 and a 200 day moving average price of $72.79. State Street Co. has a 1 year low of $62.78 and a 1 year high of $79.90. The stock has a market cap of $22.16 billion, a P/E ratio of 13.74, a P/E/G ratio of 1.30 and a beta of 1.52.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s dividend payout ratio is currently 51.69%.

Wall Street Analysts Forecast Growth

STT has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Evercore ISI upped their price objective on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. The Goldman Sachs Group raised shares of State Street from a “neutral” rating to a “buy” rating and upped their price objective for the company from $69.00 to $92.00 in a report on Wednesday, January 3rd. Argus upped their price objective on shares of State Street from $84.00 to $86.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Morgan Stanley upped their price objective on shares of State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $84.04.

Insider Activity at State Street

In related news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 149,063 shares in the company, valued at approximately $11,015,755.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 149,063 shares in the company, valued at approximately $11,015,755.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Anthony Bisegna sold 4,258 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the transaction, the executive vice president now owns 23,328 shares of the company’s stock, valued at $1,717,873.92. The disclosure for this sale can be found here. Insiders sold a total of 18,864 shares of company stock worth $1,390,597 in the last three months. Company insiders own 0.31% of the company’s stock.

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.