Corient Private Wealth LLC Has $17.83 Million Stake in State Street Co. (NYSE:STT)

Corient Private Wealth LLC cut its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,697 shares of the asset manager's stock after selling 6,822 shares during the quarter. Corient Private Wealth LLC owned 0.06% of State Street worth $17,830,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Albion Financial Group UT acquired a new position in State Street in the 4th quarter valued at $25,000. Y.D. More Investments Ltd increased its position in shares of State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after purchasing an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in State Street in the fourth quarter valued at about $42,000. Friedenthal Financial bought a new stake in State Street during the fourth quarter worth about $49,000. Finally, Hager Investment Management Services LLC bought a new stake in State Street during the fourth quarter worth about $56,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at State Street

In related news, Director Gregory L. Summe sold 10,815 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares of the company's stock, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

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State Street Trading Up 0.1 %

Shares of NYSE:STT traded up $0.11 during trading on Friday, reaching $90.63. The stock had a trading volume of 4,709,592 shares, compared to its average volume of 2,064,101. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The firm's fifty day moving average is $95.93 and its 200 day moving average is $94.16. The stock has a market cap of $26.14 billion, a price-to-earnings ratio of 11.00, a P/E/G ratio of 1.11 and a beta of 1.44. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business's quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the company posted $2.04 EPS. As a group, equities analysts forecast that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Tuesday, April 1st. State Street's payout ratio is 36.89%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wolfe Research raised State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Keefe, Bruyette & Woods raised shares of State Street from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $103.00 price target (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. StockNews.com downgraded shares of State Street from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Finally, Morgan Stanley decreased their target price on shares of State Street from $142.00 to $139.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $101.20.

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.