Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Lowers Stock Holdings in State Street Co. (NYSE:STT)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 14.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,013 shares of the asset manager's stock after selling 3,902 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in State Street were worth $2,407,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Flagship Harbor Advisors LLC bought a new position in State Street during the 4th quarter valued at about $272,000. KBC Group NV boosted its holdings in shares of State Street by 20.5% in the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager's stock valued at $6,607,000 after buying an additional 12,707 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of State Street by 11.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager's stock valued at $7,289,000 after buying an additional 7,446 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of State Street in the fourth quarter valued at $395,000. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of State Street by 17.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager's stock worth $12,124,000 after buying an additional 20,183 shares during the period. Institutional investors own 87.44% of the company's stock.

Insider Activity at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares of the company's stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STT. 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 note on Thursday, January 2nd. JPMorgan Chase & Co. upgraded shares of State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price target for the company in a research report on Friday, December 20th. Keefe, Bruyette & Woods raised State Street from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Wolfe Research raised State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, State Street currently has a consensus rating of "Hold" and an average price target of $100.73.

State Street Trading Down 0.2 %

Shares of NYSE:STT traded down $0.15 during midday trading on Friday, reaching $99.44. The company's stock had a trading volume of 1,371,123 shares, compared to its average volume of 2,132,460. The firm has a market capitalization of $29.15 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.12 and a beta of 1.43. The firm has a 50 day moving average price of $98.53 and a two-hundred day moving average price of $91.76. 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 Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts' consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.27 billion. During the same period last year, the company posted $2.04 earnings per share. The business's quarterly revenue was up 12.1% on a year-over-year basis. As a group, analysts forecast that State Street Co. will post 9.6 earnings per share for the current year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street's dividend payout ratio is currently 36.89%.

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.