State Street Co. (NYSE:STT) Shares Sold by Brown Miller Wealth Management LLC

Brown Miller Wealth Management LLC decreased its position in State Street Co. (NYSE:STT) by 10.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,243 shares of the asset manager’s stock after selling 392 shares during the period. Brown Miller Wealth Management LLC’s holdings in State Street were worth $251,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Planned Solutions Inc. bought a new stake in shares of State Street during the fourth quarter worth approximately $107,000. IFG Advisory LLC boosted its stake in shares of State Street by 4.9% in the 4th quarter. IFG Advisory LLC now owns 12,527 shares of the asset manager’s stock valued at $970,000 after purchasing an additional 583 shares in the last quarter. Trust Co of the South acquired a new stake in State Street during the 4th quarter worth approximately $320,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of State Street by 1.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 175,952 shares of the asset manager’s stock worth $13,629,000 after purchasing an additional 2,333 shares during the period. Finally, CVA Family Office LLC bought a new stake in shares of State Street in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Performance

Shares of STT stock traded up $1.12 during trading on Thursday, reaching $77.32. 2,121,676 shares of the company’s stock were exchanged, compared to its average volume of 2,238,809. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $23.35 billion, a PE ratio of 14.08, a PEG ratio of 1.33 and a beta of 1.52. The firm’s fifty day moving average price is $73.46 and its 200-day moving average price is $71.71. State Street Co. has a twelve month low of $62.78 and a twelve month high of $81.37.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 19th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.21. State Street had a net margin of 10.59% and a return on equity of 11.86%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the company earned $2.07 EPS. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, sell-side analysts anticipate that State Street Co. will post 7.83 EPS for the current year.

State Street Announces Dividend

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

Insider Transactions at State Street

In other 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 transaction, the chief financial officer now owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares in the company, valued at approximately $1,294,801. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the company’s 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 transaction, the chief financial officer now 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 worth $1,390,597 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods decreased their price target on State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a research report on Monday, January 22nd. Wells Fargo & Company reissued an “overweight” rating and set a $83.00 price target on shares of State Street in a research report on Wednesday, December 6th. Barclays raised their price objective on State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Royal Bank of Canada upped their price objective on State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Finally, UBS Group lifted their target price 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $81.83.

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.