3,350 Shares in State Street Co. (NYSE:STT) Bought by RWA Wealth Partners LLC

RWA Wealth Partners LLC purchased a new position in State Street Co. (NYSE:STT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,350 shares of the asset manager's stock, valued at approximately $329,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Albion Financial Group UT bought a new stake in State Street in the fourth quarter worth $25,000. Y.D. More Investments Ltd grew its stake in shares of State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after buying an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of State Street in the 4th quarter worth about $42,000. Loomis Sayles & Co. L P raised its position in shares of State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after buying an additional 311 shares in the last quarter. Finally, Friedenthal Financial bought a new position in shares of State Street in the 4th quarter valued at about $49,000. Institutional investors own 87.44% of the company's stock.

State Street Trading Down 7.8 %

STT traded down $6.95 during trading on Thursday, hitting $82.64. 3,019,991 shares of the stock were exchanged, compared to its average volume of 2,168,103. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The firm has a market cap of $23.84 billion, a price-to-earnings ratio of 10.03, a P/E/G ratio of 1.11 and a beta of 1.44. The firm has a 50 day simple moving average of $94.85 and a 200 day simple moving average of $94.62. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

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

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.68%. The ex-dividend date is Tuesday, April 1st. State Street's payout ratio is 36.89%.

Insider Activity at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the business'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 owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on STT. Morgan Stanley decreased their price objective on State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a research report on Wednesday. Barclays raised their price target on State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price objective on the stock in a research report on Friday, December 20th. Evercore ISI lowered their target price on shares of State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, 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 research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $102.07.

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.