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

FORVIS Wealth Advisors LLC lessened its holdings in shares of State Street Co. (NYSE:STT) by 4.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 8,390 shares of the asset manager’s stock after selling 408 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in State Street were worth $649,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. AEGON ASSET MANAGEMENT UK Plc acquired a new position in State Street during the 4th quarter worth $45,687,000. Crestwood Advisors Group LLC lifted its holdings in shares of State Street by 11.0% in the third quarter. Crestwood Advisors Group LLC now owns 83,069 shares of the asset manager’s stock valued at $5,562,000 after buying an additional 8,202 shares during the period. Ferguson Wellman Capital Management Inc. lifted its holdings in shares of State Street by 3.7% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 484,411 shares of the asset manager’s stock valued at $37,522,000 after buying an additional 17,270 shares during the period. Public Employees Retirement Association of Colorado lifted its holdings in shares of State Street by 298.6% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 37,888 shares of the asset manager’s stock valued at $2,935,000 after buying an additional 28,382 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of State Street by 4.9% in the fourth quarter. Federated Hermes Inc. now owns 270,342 shares of the asset manager’s stock valued at $20,941,000 after buying an additional 12,594 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Ratings Changes

STT has been the subject of several research analyst reports. UBS Group upped their price objective on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $85.00 price objective on shares of State Street in a report on Monday. Evercore ISI restated an “outperform” rating and issued a $88.00 price objective on shares of State Street in a report on Wednesday. Keefe, Bruyette & Woods cut their price objective on State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. upped their target price on State Street from $79.50 to $80.50 in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, State Street presently has an average rating of “Hold” and an average price target of $83.88.

State Street Trading Up 0.4 %

Shares of NYSE STT traded up $0.28 during mid-day trading on Thursday, hitting $74.14. 929,146 shares of the company traded hands, compared to its average volume of 2,094,169. The stock has a market capitalization of $22.34 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.28 and a beta of 1.48. State Street Co. has a 1 year low of $62.78 and a 1 year high of $79.90. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The business has a 50 day moving average of $74.28 and a two-hundred day moving average of $74.59.

State Street (NYSE:STT) last posted 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. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.06 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. On average, sell-side analysts anticipate that State Street Co. will post 7.95 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Monday, July 1st will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Monday, July 1st. State Street’s 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.