Avior Wealth Management LLC Has $1.17 Million Stock Position in State Street Co. (NYSE:STT)

Avior Wealth Management LLC reduced its holdings in shares of State Street Co. (NYSE:STT) by 2.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,902 shares of the asset manager’s stock after selling 240 shares during the period. Avior Wealth Management LLC’s holdings in State Street were worth $1,168,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Albion Financial Group UT purchased a new position in State Street during the fourth quarter worth about $25,000. Coastline Trust Co bought a new stake in State Street in the third quarter worth about $44,000. Friedenthal Financial bought a new stake in State Street in the fourth quarter worth about $49,000. Capital Performance Advisors LLP bought a new stake in State Street in the third quarter worth about $54,000. Finally, Versant Capital Management Inc raised its position in State Street by 37.0% in the fourth quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock worth $72,000 after acquiring an additional 197 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Price Performance

Shares of NYSE:STT opened at $99.09 on Friday. The company has a 50 day moving average of $97.93 and a 200 day moving average of $90.18. The stock has a market cap of $29.05 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.11 and a beta of 1.43. State Street Co. has a 12 month low of $70.20 and a 12 month high of $101.91. 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) last released 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 $3,267,560 billion. During the same quarter in the previous year, the company earned $2.04 EPS. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts forecast that State Street Co. will post 9.43 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.76 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.07%. State Street’s dividend payout ratio is presently 36.89%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research report on Wednesday. JPMorgan Chase & Co. raised 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. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research report on Saturday. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Finally, Barclays boosted their price target on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $100.73.

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.