Wealth Enhancement Advisory Services LLC Has $2.88 Million Stock Holdings in State Street Co. (NYSE:STT)

Wealth Enhancement Advisory Services LLC increased its stake in shares of State Street Co. (NYSE:STT) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,321 shares of the asset manager’s stock after buying an additional 535 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in State Street were worth $2,878,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in STT. Peapack Gladstone Financial Corp grew its stake in shares of State Street by 2.0% during the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock valued at $467,000 after purchasing an additional 103 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in State Street by 5.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after buying an additional 129 shares in the last quarter. Rockland Trust Co. lifted its holdings in State Street by 1.8% during the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock worth $737,000 after buying an additional 150 shares in the last quarter. Empirical Finance LLC boosted its position in State Street by 1.4% in the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock valued at $997,000 after buying an additional 158 shares during the last quarter. Finally, Citizens Financial Group Inc. RI increased its stake in shares of State Street by 3.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 5,790 shares of the asset manager’s stock valued at $512,000 after buying an additional 184 shares during the period. Institutional investors own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. The Goldman Sachs Group upped their target price on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a report on Monday, November 11th. Morgan Stanley lowered their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. 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. Finally, Wells Fargo & Company lifted their price objective on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $100.33.

State Street Trading Up 1.1 %

Shares of State Street stock opened at $95.45 on Wednesday. The firm has a market cap of $27.98 billion, a PE ratio of 15.08, a P/E/G ratio of 1.24 and a beta of 1.43. State Street Co. has a 1 year low of $70.20 and a 1 year high of $101.91. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a fifty day moving average price of $97.51 and a 200-day moving average price of $89.20.

State Street (NYSE:STT) last announced its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.14. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.93 EPS. Equities research analysts anticipate that State Street Co. will post 8.42 EPS for the current year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Thursday, January 2nd. State Street’s payout ratio is 48.03%.

Insider Transactions at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Plansky sold 13,859 shares of State Street stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the completion of the transaction, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is currently owned by corporate insiders.

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.