Mayflower Financial Advisors LLC Sells 135 Shares of State Street Co. (NYSE:STT)

Mayflower Financial Advisors LLC lowered its position in State Street Co. (NYSE:STT) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,344 shares of the asset manager’s stock after selling 135 shares during the period. Mayflower Financial Advisors LLC’s holdings in State Street were worth $524,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in STT. Creative Planning lifted its stake in State Street by 11.2% in the second quarter. Creative Planning now owns 18,400 shares of the asset manager’s stock valued at $1,362,000 after buying an additional 1,857 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in State Street by 5.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,863 shares of the asset manager’s stock worth $878,000 after purchasing an additional 588 shares during the last quarter. Sanctuary Advisors LLC bought a new position in State Street in the second quarter valued at $1,016,000. Verity & Verity LLC lifted its position in State Street by 2.8% during the 2nd quarter. Verity & Verity LLC now owns 178,225 shares of the asset manager’s stock worth $13,189,000 after buying an additional 4,912 shares in the last quarter. Finally, Czech National Bank lifted its position in State Street by 6.0% during the 3rd quarter. Czech National Bank now owns 60,832 shares of the asset manager’s stock worth $5,382,000 after buying an additional 3,424 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on 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 approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company’s stock.

State Street Trading Up 0.5 %

Shares of STT stock opened at $100.90 on Thursday. State Street Co. has a 12-month low of $70.20 and a 12-month high of $102.63. The firm has a 50 day moving average price of $98.20 and a two-hundred day moving average price of $90.90. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $29.58 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT) last released its quarterly earnings results 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. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.04 EPS. As a group, analysts predict that State Street Co. will post 9.43 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is 36.89%.

Analyst Ratings Changes

STT has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 target price (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Barclays increased their price objective on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Truist Financial lowered their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Wells Fargo & Company increased their price target on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. Finally, Morgan Stanley decreased their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, State Street currently has an average rating of “Hold” and an average price target of $100.73.

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.