Schechter Investment Advisors LLC Lowers Position in State Street Co. (NYSE:STT)

Schechter Investment Advisors LLC cut its stake in shares of State Street Co. (NYSE:STT) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,470 shares of the asset manager’s stock after selling 202 shares during the period. Schechter Investment Advisors LLC’s holdings in State Street were worth $635,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Plato Investment Management Ltd lifted its position in shares of State Street by 8.8% in the fourth quarter. Plato Investment Management Ltd now owns 30,480 shares of the asset manager’s stock valued at $3,002,000 after acquiring an additional 2,466 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of State Street by 42.7% in the fourth quarter. Jones Financial Companies Lllp now owns 128,261 shares of the asset manager’s stock valued at $12,589,000 after acquiring an additional 38,396 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of State Street in the fourth quarter valued at about $42,000. Smartleaf Asset Management LLC lifted its position in shares of State Street by 65.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,131 shares of the asset manager’s stock valued at $209,000 after acquiring an additional 841 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its position in shares of State Street by 1.0% in the fourth quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock valued at $1,201,000 after acquiring an additional 121 shares in the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at State Street

In related news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares of the company’s stock, valued at $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the transaction, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on STT shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $103.00 price objective (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Wells Fargo & Company increased their price target on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and increased their price target for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $100.73.

State Street Trading Down 5.4 %

Shares of NYSE STT opened at $91.73 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The business’s 50 day moving average price is $98.41 and its 200-day moving average price is $93.90. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The company has a market cap of $26.46 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the prior year, the business posted $2.04 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, sell-side analysts expect that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.31%. State Street’s payout ratio is 36.89%.

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.