LVW Advisors LLC Sells 801 Shares of State Street Co. (NYSE:STT)

LVW Advisors LLC trimmed its position in shares of State Street Co. (NYSE:STT) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STT. Benjamin F. Edwards & Company Inc. raised its stake in shares of State Street by 5.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock valued at $186,000 after purchasing an additional 129 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of State Street by 4.6% during the 2nd quarter. Pacer Advisors Inc. now owns 20,939 shares of the asset manager’s stock worth $1,549,000 after acquiring an additional 922 shares during the period. Sei Investments Co. boosted its position in shares of State Street by 14.5% during the 2nd quarter. Sei Investments Co. now owns 500,238 shares of the asset manager’s stock valued at $37,017,000 after acquiring an additional 63,438 shares in the last quarter. Ensign Peak Advisors Inc increased its stake in State Street by 39.3% in the second quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock valued at $10,794,000 after acquiring an additional 41,180 shares during the period. Finally, ProShare Advisors LLC raised its position in State Street by 3.4% in the second quarter. ProShare Advisors LLC now owns 79,042 shares of the asset manager’s stock worth $5,849,000 after purchasing an additional 2,574 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on STT. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a report on Friday, December 20th. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their price objective on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Finally, Morgan Stanley reduced their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $100.33.

Insiders Place Their Bets

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

State Street Trading Down 3.0 %

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

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business had revenue of $3.41 billion during 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 firm’s revenue was up 12.1% on a year-over-year basis. On average, analysts predict that State Street Co. will post 8.45 EPS for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis 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%.

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.