Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 2,814 Shares of State Street Co. (NYSE:STT)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its position in shares of State Street Co. (NYSE:STT) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 64,937 shares of the asset manager’s stock after selling 2,814 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in State Street were worth $4,797,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in STT. International Assets Investment Management LLC purchased a new position in shares of State Street during the 3rd quarter valued at about $743,000. CWM LLC lifted its position in shares of State Street by 17.2% during the 3rd quarter. CWM LLC now owns 5,912 shares of the asset manager’s stock valued at $396,000 after buying an additional 866 shares in the last quarter. HB Wealth Management LLC lifted its position in shares of State Street by 5.6% during the 3rd quarter. HB Wealth Management LLC now owns 3,390 shares of the asset manager’s stock valued at $227,000 after buying an additional 181 shares in the last quarter. Rothschild Investment LLC IL lifted its position in shares of State Street by 3.2% during the 3rd quarter. Rothschild Investment LLC IL now owns 8,253 shares of the asset manager’s stock valued at $553,000 after buying an additional 254 shares in the last quarter. Finally, Everence Capital Management Inc. lifted its position in shares of State Street by 9.2% during the 3rd quarter. Everence Capital Management Inc. now owns 11,380 shares of the asset manager’s stock valued at $762,000 after buying an additional 960 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Argus lifted their price objective on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. boosted their price target on State Street from $79.50 to $80.50 in a report on Friday, April 12th. Morgan Stanley boosted their price target on State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. UBS Group boosted their price target on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, Keefe, Bruyette & Woods lowered their price target on State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, State Street currently has an average rating of “Hold” and an average price target of $84.04.

State Street Price Performance

Shares of STT traded up $1.14 during mid-day trading on Monday, hitting $74.51. 1,674,136 shares of the stock were exchanged, compared to its average volume of 2,284,269. The company has a market cap of $22.50 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52. State Street Co. has a 52-week low of $62.78 and a 52-week high of $79.90. The firm has a 50-day moving average of $74.01 and a two-hundred day moving average of $72.60. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.61.

State Street (NYSE:STT) last issued 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. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.95 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.07 EPS. On average, equities analysts predict that State Street Co. will post 7.93 earnings per share for the current year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Thursday, March 28th. State Street’s dividend payout ratio is currently 51.69%.

Insider Activity

In other news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction that occurred 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 approximately $11,015,755.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the company’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 owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of the company’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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,864 shares of company stock valued at $1,390,597. 0.31% of the stock is currently owned by insiders.

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.