Wealth Enhancement Advisory Services LLC Raises Holdings in State Street Co. (NYSE:STT)

Wealth Enhancement Advisory Services LLC grew its stake in shares of State Street Co. (NYSE:STT) by 5.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,232 shares of the asset manager’s stock after acquiring an additional 1,707 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in State Street were worth $2,647,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of STT. CVA Family Office LLC purchased a new position in shares of State Street in the fourth quarter worth $27,000. Venturi Wealth Management LLC raised its stake in State Street by 92.5% in the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after acquiring an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in State Street in the 4th quarter worth $35,000. Accent Capital Management LLC acquired a new stake in State Street during the 4th quarter worth about $39,000. Finally, Quarry LP purchased a new stake in State Street during the 4th quarter valued at about $39,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on STT. Royal Bank of Canada restated a “sector perform” rating and issued a $85.00 price objective on shares of State Street in a research note on Monday. JPMorgan Chase & Co. lifted their price objective on shares of State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 target price on shares of State Street in a report on Wednesday, June 12th. Evercore ISI restated an “outperform” rating and issued a $88.00 target price on shares of State Street in a research note on Wednesday. Finally, Argus raised their price target on shares of State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $83.88.

State Street Stock Up 0.4 %

Shares of NYSE STT opened at $74.14 on Thursday. State Street Co. has a 52-week low of $62.78 and a 52-week high of $79.90. The business’s 50 day moving average is $74.29 and its two-hundred day moving average is $74.60. The firm has a market cap of $22.34 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.29 and a beta of 1.49. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.90.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Research analysts predict that State Street Co. will post 7.94 EPS for the current year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.72%. The ex-dividend date is Monday, July 1st. State Street’s dividend payout ratio (DPR) is presently 51.69%.

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.