State Street Co. (NYSE:STT) Shares Sold by Cerity Partners LLC

Cerity Partners LLC lessened its stake in State Street Co. (NYSE:STT) by 70.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 27,756 shares of the asset manager’s stock after selling 66,427 shares during the period. Cerity Partners LLC’s holdings in State Street were worth $2,150,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC purchased a new position in State Street in the 4th quarter valued at approximately $27,000. Venturi Wealth Management LLC boosted its position in State Street by 92.5% in the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after buying an additional 184 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in State Street in the 4th quarter valued at approximately $35,000. Covestor Ltd boosted its position in State Street by 69.2% in the 1st quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock valued at $50,000 after buying an additional 234 shares during the period. Finally, State of Wyoming boosted its position in State Street by 51.3% in the 2nd quarter. State of Wyoming now owns 619 shares of the asset manager’s stock valued at $45,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares in the company, valued at $1,294,801. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the transaction, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the transaction, the executive vice president now owns 17,737 shares in the company, valued at $1,294,801. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,864 shares of company stock worth $1,390,597. 0.31% of the stock is owned by company insiders.

State Street Price Performance

Shares of NYSE:STT opened at $73.37 on Friday. The company’s fifty day moving average price is $74.00 and its 200 day moving average price is $72.42. State Street Co. has a 12 month low of $62.78 and a 12 month high of $79.90. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The firm has a market capitalization of $22.15 billion, a P/E ratio of 13.74, a P/E/G ratio of 1.30 and a beta of 1.52.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.95 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. State Street’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.07 earnings per share. As a group, sell-side analysts predict that State Street Co. will post 7.93 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were paid a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a yield of 3.76%. State Street’s dividend payout ratio is presently 51.69%.

Analyst Upgrades and Downgrades

STT has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price target on shares of State Street from $79.50 to $80.50 in a research report on Friday, April 12th. The Goldman Sachs Group raised shares of State Street from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $69.00 to $92.00 in a research report on Wednesday, January 3rd. Bank of America reaffirmed an “underperform” rating and set a $81.00 price objective on shares of State Street in a research report on Thursday, January 4th. Royal Bank of Canada lifted their price objective on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Finally, UBS Group lifted their price objective on shares of State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $84.04.

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.