Kestra Private Wealth Services LLC Sells 201 Shares of State Street Co. (NYSE:STT)

Kestra Private Wealth Services LLC lessened its holdings in shares of State Street Co. (NYSE:STT) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,872 shares of the asset manager’s stock after selling 201 shares during the period. Kestra Private Wealth Services LLC’s holdings in State Street were worth $222,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Choreo LLC boosted its stake in State Street by 112.8% during the fourth quarter. Choreo LLC now owns 7,762 shares of the asset manager’s stock worth $607,000 after acquiring an additional 4,115 shares in the last quarter. Financial Advisors LLC bought a new stake in shares of State Street in the 4th quarter worth approximately $218,000. PGGM Investments purchased a new stake in shares of State Street in the 4th quarter worth approximately $167,000. Russell Investments Group Ltd. increased its position in State Street by 11.8% during the 4th quarter. Russell Investments Group Ltd. now owns 269,181 shares of the asset manager’s stock valued at $20,873,000 after buying an additional 28,347 shares in the last quarter. Finally, Citizens Financial Group Inc. RI raised its stake in State Street by 6.1% during the fourth quarter. Citizens Financial Group Inc. RI now owns 3,350 shares of the asset manager’s stock valued at $260,000 after buying an additional 193 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Performance

STT opened at $76.26 on Friday. State Street Co. has a 12-month low of $62.78 and a 12-month high of $79.90. The company has a market cap of $22.97 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.32 and a beta of 1.52. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.90. The company’s 50 day moving average is $74.38 and its 200 day moving average is $73.26.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) 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 the consensus estimate of $3.06 billion. On average, equities research analysts predict that State Street Co. will post 7.96 EPS for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s dividend payout ratio (DPR) is currently 51.69%.

Insider Activity

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the sale, the executive vice president now owns 17,737 shares in the company, valued at approximately $1,294,801. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Anthony Bisegna sold 2,606 shares of the 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 completion of the sale, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at $1,294,801. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction on 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 owns 149,063 shares in the company, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold a total of 18,864 shares of company stock valued at $1,390,597 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods dropped their target price on shares of State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. JPMorgan Chase & Co. upped their price objective on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Royal Bank of Canada lifted their target price on State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Argus increased their price objective on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Finally, Evercore ISI boosted their target price on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, State Street currently has an average rating of “Hold” and a consensus price target of $84.04.

State Street 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.