Evanson Asset Management LLC Sells 1,200 Shares of State Street Co. (NYSE:STT)

Evanson Asset Management LLC decreased its position in shares of State Street Co. (NYSE:STT) by 22.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,210 shares of the asset manager’s stock after selling 1,200 shares during the quarter. Evanson Asset Management LLC’s holdings in State Street were worth $326,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in STT. CVA Family Office LLC bought a new position in State Street in the 4th quarter valued at approximately $27,000. Covestor Ltd lifted its stake in shares of State Street by 69.2% in the 1st quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 234 shares during the last quarter. State of Wyoming boosted its holdings in shares of State Street by 51.3% during the 2nd quarter. State of Wyoming now owns 619 shares of the asset manager’s stock valued at $45,000 after acquiring an additional 210 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in State Street during the 4th quarter worth $51,000. Finally, IFP Advisors Inc raised its position in State Street by 24.9% in the second quarter. IFP Advisors Inc now owns 733 shares of the asset manager’s stock valued at $54,000 after purchasing an additional 146 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on STT. Bank of America reiterated an “underperform” rating and issued a $81.00 price objective on shares of State Street in a report on Thursday, January 4th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $83.00 target price on shares of State Street in a report on Wednesday, December 6th. Morgan Stanley raised their price objective 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. UBS Group raised their price target on shares of State Street from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Finally, Royal Bank of Canada lifted their target price on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $81.83.

Insider Transactions at State Street

In related news, EVP Anthony Bisegna sold 4,258 shares of the company’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 transaction, the executive vice president now owns 23,328 shares in the company, valued at $1,717,873.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the transaction, 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 SEC, which is available through the SEC website. Also, EVP Anthony Bisegna sold 4,258 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the completion of the sale, the executive vice president now directly owns 23,328 shares in the company, valued at $1,717,873.92. The disclosure for this sale can be found here. Insiders have sold 18,864 shares of company stock worth $1,390,597 in the last ninety days. Company insiders own 0.25% of the company’s stock.

State Street Stock Up 1.5 %

STT stock traded up $1.12 during mid-day trading on Thursday, reaching $77.32. 2,121,676 shares of the company traded hands, compared to its average volume of 2,238,809. The firm’s 50 day moving average price is $73.46 and its 200 day moving average price is $71.71. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $81.37. The stock has a market cap of $23.35 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 1.33 and a beta of 1.52. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.86.

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

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Monday, April 1st will be paid a $0.69 dividend. The ex-dividend date is Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a yield of 3.57%. State Street’s dividend payout ratio (DPR) is presently 50.27%.

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.