Heritage Investors Management Corp Reduces Stock Holdings in State Street Co. (NYSE:STT)

Heritage Investors Management Corp lessened its stake in shares of State Street Co. (NYSE:STT) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,340 shares of the asset manager’s stock after selling 800 shares during the quarter. Heritage Investors Management Corp’s holdings in State Street were worth $801,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CVA Family Office LLC acquired a new stake in shares of State Street in the fourth quarter valued at approximately $27,000. Venturi Wealth Management LLC grew its position in State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after purchasing an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in State Street in the fourth quarter valued at $35,000. Bruce G. Allen Investments LLC acquired a new position in State Street in the fourth quarter valued at $51,000. Finally, GAMMA Investing LLC acquired a new stake in shares of State Street during the fourth quarter worth about $75,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley boosted their price target on State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Argus upped their price target on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. UBS Group lifted their price objective on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. upped their price objective on shares of State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Finally, Royal Bank of Canada lifted their target price on shares of State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $84.04.

State Street Price Performance

Shares of STT stock traded up $0.94 during midday trading on Thursday, reaching $76.26. 1,416,131 shares of the company traded hands, compared to its average volume of 2,357,541. The firm’s 50 day simple moving average is $74.38 and its two-hundred day simple moving average is $73.26. The firm has a market cap of $22.97 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 1.32 and a beta of 1.52. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.61. State Street Co. has a 1-year low of $62.78 and a 1-year high of $79.90.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.21. State Street had a return on equity of 12.03% and a net margin of 9.62%. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.06 billion. On average, equities research analysts expect that State Street Co. will post 7.96 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were issued a $0.69 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.76 annualized dividend and a yield of 3.62%. State Street’s dividend payout ratio (DPR) is presently 51.69%.

Insider Activity

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the sale, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the transaction, the executive vice president now owns 17,737 shares of the company’s stock, valued at $1,294,801. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the sale, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The disclosure for this sale can be found here. Insiders sold a total of 18,864 shares of company stock valued at $1,390,597 over the last quarter. Company insiders own 0.31% of the company’s stock.

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.