Valley Wealth Managers Inc. Lowers Holdings in State Street Co. (NYSE:STT)

Valley Wealth Managers Inc. reduced its position in shares of State Street Co. (NYSE:STTFree Report) by 2.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 57,495 shares of the asset manager’s stock after selling 1,341 shares during the quarter. Valley Wealth Managers Inc.’s holdings in State Street were worth $3,850,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd increased its stake in State Street by 69.2% during the 1st quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 234 shares in the last quarter. State of Wyoming grew its stake in shares of State Street by 51.3% in the second quarter. State of Wyoming now owns 619 shares of the asset manager’s stock worth $45,000 after acquiring an additional 210 shares during the period. IFP Advisors Inc grew its stake in shares of State Street by 24.9% in the second quarter. IFP Advisors Inc now owns 733 shares of the asset manager’s stock worth $72,000 after acquiring an additional 146 shares during the period. Savior LLC grew its stake in shares of State Street by 90.4% in the third quarter. Savior LLC now owns 857 shares of the asset manager’s stock worth $57,000 after acquiring an additional 407 shares during the period. Finally, MV Capital Management Inc. grew its stake in shares of State Street by 234.3% in the second quarter. MV Capital Management Inc. now owns 916 shares of the asset manager’s stock worth $67,000 after acquiring an additional 642 shares during the period. 89.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of research analyst reports. Barclays lifted their price target on shares of State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada boosted their target price on shares of State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. UBS Group boosted their target price on shares of State Street from $70.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. Wells Fargo & Company restated an “overweight” rating and set a $83.00 target price on shares of State Street in a research report on Wednesday, December 6th. Finally, Morgan Stanley lifted their price target on shares of State Street from $83.00 to $88.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, State Street currently has a consensus rating of “Hold” and an average target price of $81.83.

Check Out Our Latest Stock Analysis on STT

State Street Price Performance

Shares of STT stock traded up $0.29 during mid-day trading on Monday, hitting $73.13. The company had a trading volume of 65,980 shares, compared to its average volume of 2,209,371. State Street Co. has a 52-week low of $62.78 and a 52-week high of $94.74. The stock’s 50 day moving average price is $75.56 and its 200-day moving average price is $71.01. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.55 and a quick ratio of 0.51. The company has a market capitalization of $22.57 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.46 and a beta of 1.53.

State Street (NYSE:STTGet Free Report) last released its earnings results on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, topping the consensus estimate of $1.83 by $0.21. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.95 billion. State Street had a net margin of 10.59% and a return on equity of 11.86%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.07 earnings per share. Equities research analysts forecast that State Street Co. will post 7.84 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Tuesday, January 2nd were paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Friday, December 29th. State Street’s payout ratio is 50.27%.

State Street Profile

(Free Report)

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; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

Further Reading

Want to see what other hedge funds are holding STT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for State Street Co. (NYSE:STTFree Report).

Institutional Ownership by Quarter for State Street (NYSE:STT)

Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.