State Street Corporation $STT Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. trimmed its holdings in shares of State Street Corporation (NYSE:STT) by 11.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,008,099 shares of the asset manager’s stock after selling 133,162 shares during the quarter. State Street accounts for approximately 2.1% of Ferguson Wellman Capital Management Inc.’s portfolio, making the stock its 13th biggest position. Ferguson Wellman Capital Management Inc. owned about 0.36% of State Street worth $130,055,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC lifted its position in State Street by 166.3% in the third quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after buying an additional 158 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in shares of State Street in the 3rd quarter valued at approximately $29,000. Flagship Wealth Advisors LLC purchased a new stake in shares of State Street in the 3rd quarter valued at approximately $35,000. Measured Wealth Private Client Group LLC acquired a new position in shares of State Street in the 3rd quarter worth approximately $35,000. Finally, SJS Investment Consulting Inc. boosted its position in shares of State Street by 2,142.9% during the 3rd quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock worth $36,000 after purchasing an additional 300 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Price Performance

State Street stock opened at $126.91 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $137.05. The firm has a market cap of $35.37 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The company’s 50 day moving average is $127.24 and its two-hundred day moving average is $122.52.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, topping the consensus estimate of $2.82 by $0.15. State Street had a net margin of 13.02% and a return on equity of 13.46%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the firm posted $2.60 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, research analysts expect that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Wednesday, April 1st will be issued a $0.84 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. State Street’s dividend payout ratio (DPR) is 35.71%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on STT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a report on Wednesday, January 21st. Citigroup assumed coverage on State Street in a research report on Monday, February 23rd. They set a “buy” rating and a $150.00 price target for the company. Loop Capital set a $144.00 price objective on State Street in a research note on Tuesday, January 6th. Truist Financial set a $136.00 price objective on State Street in a report on Tuesday, January 20th. Finally, Wall Street Zen raised State Street from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.83.

Insider Buying and Selling

In related news, EVP John Plansky sold 16,100 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the completion of the transaction, the executive vice president directly owned 56,162 shares of the company’s stock, valued at $6,982,059.84. The trade was a 22.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by insiders.

State Street Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.