State Street Corporation (NYSE:STT) Stock Holdings Trimmed by Avior Wealth Management LLC

Avior Wealth Management LLC lowered its holdings in shares of State Street Corporation (NYSE:STT) by 95.7% during the 1st quarter, Holdings Channel reports. The fund owned 506 shares of the asset manager’s stock after selling 11,396 shares during the period. Avior Wealth Management LLC’s holdings in State Street were worth $45,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of State Street in the 4th quarter worth $42,000. Coppell Advisory Solutions LLC raised its stake in shares of State Street by 2,942.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock worth $42,000 after buying an additional 412 shares in the last quarter. MV Capital Management Inc. raised its stake in shares of State Street by 98.4% in the 1st quarter. MV Capital Management Inc. now owns 506 shares of the asset manager’s stock worth $45,000 after buying an additional 251 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after buying an additional 311 shares in the last quarter. Finally, Minot DeBlois Advisors LLC bought a new stake in shares of State Street in the 4th quarter worth $49,000. Institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the sale, the chief accounting officer now owns 7,354 shares of the company’s stock, valued at $667,154.88. The trade was a 15.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on STT. Wall Street Zen downgraded State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. The Goldman Sachs Group set a $98.00 price objective on State Street and gave the stock a “buy” rating in a research note on Thursday, April 17th. Wells Fargo & Company dropped their price objective on State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Cfra Research cut State Street from a “moderate buy” rating to a “hold” rating in a report on Thursday, May 29th. Finally, Morgan Stanley set a $110.00 target price on State Street and gave the stock an “overweight” rating in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $102.54.

State Street Stock Performance

Shares of STT stock opened at $101.30 on Tuesday. State Street Corporation has a 1-year low of $71.96 and a 1-year high of $103.00. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $28.89 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 1.16 and a beta of 1.45. The stock’s fifty day simple moving average is $93.49 and its 200-day simple moving average is $94.02.

State Street (NYSE:STT) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.06. State Street had a return on equity of 12.79% and a net margin of 12.85%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the previous year, the company posted $1.69 earnings per share. On average, sell-side analysts predict that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be paid a $0.76 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.00%. State Street’s dividend payout ratio (DPR) is currently 34.12%.

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.