Welch & Forbes LLC Has $5.21 Million Holdings in State Street Co. (NYSE:STT)

Welch & Forbes LLC lessened its holdings in shares of State Street Co. (NYSE:STT) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,253 shares of the asset manager’s stock after selling 8,854 shares during the quarter. Welch & Forbes LLC’s holdings in State Street were worth $5,209,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC bought a new stake in shares of State Street during the fourth quarter worth approximately $27,000. Venturi Wealth Management LLC boosted its stake in shares of State Street by 92.5% in the fourth quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after buying an additional 184 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in shares of State Street in the fourth quarter valued at approximately $35,000. Bruce G. Allen Investments LLC bought a new stake in shares of State Street in the fourth quarter valued at approximately $51,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of State Street in the third quarter valued at approximately $72,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. UBS Group boosted their price target on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Argus upped their target price on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. upped their target price on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Morgan Stanley upped their target price on State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, Evercore ISI upped their price target on shares of State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $84.04.

Insider Activity at State Street

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following 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. In the last ninety days, insiders sold 18,864 shares of company stock worth $1,390,597. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Up 0.3 %

NYSE STT traded up $0.24 during trading hours on Tuesday, hitting $75.35. The company’s stock had a trading volume of 1,827,148 shares, compared to its average volume of 2,372,872. State Street Co. has a 52 week low of $62.78 and a 52 week high of $79.90. The company has a market capitalization of $22.70 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 1.32 and a beta of 1.52. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.90. The company’s 50-day simple moving average is $74.34 and its two-hundred day simple moving average is $73.24.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Research analysts anticipate that State Street Co. will post 7.96 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were paid a $0.69 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a yield of 3.66%. State Street’s dividend payout ratio is 51.69%.

State Street 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.