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

Wealth Enhancement Advisory Services LLC increased its stake in State Street Co. (NYSE:STTFree Report) by 5.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,232 shares of the asset manager’s stock after buying an additional 1,707 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in State Street were worth $2,647,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC raised its position in shares of State Street by 6.5% in the 3rd quarter. LPL Financial LLC now owns 96,148 shares of the asset manager’s stock worth $6,438,000 after purchasing an additional 5,864 shares during the last quarter. Lido Advisors LLC raised its holdings in State Street by 1.6% in the third quarter. Lido Advisors LLC now owns 11,298 shares of the asset manager’s stock worth $756,000 after buying an additional 178 shares during the last quarter. Crestwood Advisors Group LLC lifted its stake in shares of State Street by 11.0% in the third quarter. Crestwood Advisors Group LLC now owns 83,069 shares of the asset manager’s stock worth $5,562,000 after buying an additional 8,202 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of State Street by 4.4% during the third quarter. The Manufacturers Life Insurance Company now owns 1,491,059 shares of the asset manager’s stock valued at $99,841,000 after buying an additional 63,378 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its position in shares of State Street by 14.6% during the third quarter. iA Global Asset Management Inc. now owns 7,807 shares of the asset manager’s stock valued at $523,000 after acquiring an additional 992 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

STT opened at $74.14 on Thursday. The company has a 50 day simple moving average of $74.29 and a two-hundred day simple moving average of $74.60. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.61. The firm has a market cap of $22.34 billion, a P/E ratio of 13.88, a PEG ratio of 1.29 and a beta of 1.49. State Street Co. has a 1-year low of $62.78 and a 1-year high of $79.90.

State Street (NYSE:STTGet Free Report) last issued its earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.21. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.06 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. Equities analysts forecast that State Street Co. will post 7.94 earnings per share for the current fiscal year.

State Street Announces Dividend

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

Analyst Ratings Changes

Several analysts have commented on STT shares. Argus increased their target price on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods reduced their price objective on State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a report on Thursday, June 27th. Morgan Stanley reissued an “equal weight” rating and issued a $90.00 target price on shares of State Street in a research report on Wednesday, June 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $85.00 price target on shares of State Street in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, State Street presently has an average rating of “Hold” and a consensus price target of $83.88.

Check Out Our Latest Stock Analysis on STT

State Street Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding STT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for State Street Co. (NYSE:STTFree Report).

Institutional Ownership by Quarter for State Street (NYSE:STT)

Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.