Integrated Wealth Concepts LLC Grows Position in State Street Co. (NYSE:STT)

Integrated Wealth Concepts LLC boosted its stake in shares of State Street Co. (NYSE:STT) by 6.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,539 shares of the asset manager’s stock after buying an additional 488 shares during the period. Integrated Wealth Concepts LLC’s holdings in State Street were worth $740,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Albion Financial Group UT bought a new stake in shares of State Street in the fourth quarter worth about $25,000. Y.D. More Investments Ltd increased its stake in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of State Street during the 4th quarter worth approximately $42,000. Coppell Advisory Solutions LLC boosted its position in shares of State Street by 2,942.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 412 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in shares of State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 311 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Insider Transactions at State Street

In related news, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director now owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on STT shares. Citigroup lowered their price objective on shares of State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Keefe, Bruyette & Woods dropped their price target on State Street from $118.00 to $113.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Finally, Evercore ISI lowered their price target on State Street from $109.00 to $106.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, State Street currently has an average rating of “Hold” and an average price target of $102.15.

State Street Trading Up 0.8 %

Shares of STT opened at $88.79 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $25.62 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 1.11 and a beta of 1.42. The company has a 50-day moving average of $86.94 and a 200 day moving average of $93.60. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00.

State Street (NYSE:STT) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.06. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same quarter in the prior year, the firm earned $1.69 earnings per share. On average, research analysts expect that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is 34.12%.

About State Street

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.