Diversify Advisory Services LLC Sells 1,267 Shares of State Street Co. (NYSE:STT)

Diversify Advisory Services LLC reduced its position in shares of State Street Co. (NYSE:STT) by 18.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,462 shares of the asset manager’s stock after selling 1,267 shares during the period. Diversify Advisory Services LLC’s holdings in State Street were worth $513,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV boosted its position in State Street by 20.5% during the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after acquiring an additional 12,707 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of State Street by 17.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock worth $12,124,000 after acquiring an additional 20,183 shares in the last quarter. Ensign Peak Advisors Inc lifted its position in shares of State Street by 39.3% during the 2nd quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock worth $10,794,000 after buying an additional 41,180 shares in the last quarter. Banque Cantonale Vaudoise lifted its holdings in State Street by 118.9% during the third quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager’s stock worth $3,775,000 after acquiring an additional 23,171 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of State Street by 43.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock worth $6,069,000 after buying an additional 20,968 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Up 1.3 %

NYSE:STT opened at $98.93 on Wednesday. The firm has a market cap of $29.00 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.07 and a beta of 1.43. State Street Co. has a 1-year low of $70.20 and a 1-year high of $101.91. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The company has a 50-day moving average of $97.74 and a 200 day moving average of $89.90.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3,267,560 billion. During the same quarter in the prior year, the company posted $2.04 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, research analysts anticipate that State Street Co. will post 9.55 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley dropped their price target on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Wells Fargo & Company boosted their price target on shares of 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 downgraded shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised their price target on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Evercore ISI upped their price objective on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $100.20.

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.