Valley Wealth Managers Inc. Has $4.38 Million Stake in State Street Co. (NYSE:STT)

Valley Wealth Managers Inc. reduced its position in shares of State Street Co. (NYSE:STT - Free Report) by 12.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,594 shares of the asset manager's stock after selling 6,100 shares during the period. Valley Wealth Managers Inc.'s holdings in State Street were worth $4,377,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in STT. Exchange Traded Concepts LLC raised its position in shares of State Street by 2,137.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,633 shares of the asset manager's stock valued at $144,000 after acquiring an additional 1,560 shares in the last quarter. Creative Planning increased its position in State Street by 13.4% in the third quarter. Creative Planning now owns 20,870 shares of the asset manager's stock worth $1,846,000 after buying an additional 2,470 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in State Street by 2.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,417 shares of the asset manager's stock worth $2,779,000 after buying an additional 713 shares during the period. Blue Trust Inc. increased its position in State Street by 55.6% in the third quarter. Blue Trust Inc. now owns 4,452 shares of the asset manager's stock worth $394,000 after buying an additional 1,591 shares during the period. Finally, Plimoth Trust Co. LLC increased its position in State Street by 32.3% in the third quarter. Plimoth Trust Co. LLC now owns 3,895 shares of the asset manager's stock worth $345,000 after buying an additional 950 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares of the company's stock, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,020 shares of company stock valued at $2,674,661. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on STT shares. Morgan Stanley dropped their target price on State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a research report on Friday, January 3rd. Keefe, Bruyette & Woods raised 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 research report on Tuesday, December 3rd. StockNews.com lowered State Street from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Wells Fargo & Company increased their target price on State Street from $108.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $100.73.

State Street Price Performance

STT stock traded down $0.91 during trading hours on Friday, hitting $98.74. 1,808,387 shares of the stock traded hands, compared to its average volume of 1,973,938. The stock has a 50-day simple moving average of $98.55 and a 200 day simple moving average of $92.79. The company has a market cap of $28.48 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.11 and a beta of 1.43. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping analysts' consensus estimates of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street's revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $2.04 EPS. Equities analysts forecast that State Street Co. will post 9.65 earnings per share for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be paid a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.08%. State Street's dividend payout ratio is currently 36.89%.

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.