State Street Co. (NYSE:STT) Shares Sold by LVW Advisors LLC

LVW Advisors LLC lessened its stake in shares of State Street Co. (NYSE:STT) by 12.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,630 shares of the asset manager’s stock after selling 801 shares during the period. LVW Advisors LLC’s holdings in State Street were worth $553,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of State Street by 0.6% during the third quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock valued at $632,111,000 after purchasing an additional 41,442 shares during the last quarter. FMR LLC lifted its stake in State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after buying an additional 833,679 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of State Street by 30.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after buying an additional 1,354,560 shares during the period. Metropolis Capital Ltd increased its position in shares of State Street by 3.9% in the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after acquiring an additional 161,466 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of State Street by 13.8% during the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after acquiring an additional 408,792 shares during the period. 87.44% of the stock is owned by institutional investors.

Insider Transactions at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

STT has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a research report on Friday, December 20th. Wells Fargo & Company upped their price target on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley dropped their target price on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Finally, Barclays raised their price target on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, State Street has an average rating of “Hold” and an average price target of $100.33.

State Street Stock Performance

Shares of NYSE STT opened at $97.51 on Tuesday. The business’s 50-day simple moving average is $97.72 and its 200-day simple moving average is $89.74. State Street Co. has a 52 week low of $70.20 and a 52 week high of $101.91. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $28.58 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 0.97 and a beta of 1.43.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3,267,560 billion. During the same period in the previous year, the company earned $2.04 earnings per share. State Street’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities research analysts expect that State Street Co. will post 8.45 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio is currently 48.03%.

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.