HB Wealth Management LLC Acquires 140 Shares of State Street Co. (NYSE:STT)

HB Wealth Management LLC raised its holdings in shares of State Street Co. (NYSE:STT) by 3.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,309 shares of the asset manager’s stock after acquiring an additional 140 shares during the period. HB Wealth Management LLC’s holdings in State Street were worth $333,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in STT. CVA Family Office LLC acquired a new position in State Street in the fourth quarter valued at about $27,000. Venturi Wealth Management LLC boosted its stake 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 acquiring an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in State Street during the fourth quarter valued at approximately $35,000. Norwood Financial Corp bought a new stake in State Street in the first quarter valued at approximately $35,000. Finally, Accent Capital Management LLC acquired a new stake in State Street in the fourth quarter worth $39,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Performance

STT stock traded down $0.74 during trading hours on Friday, reaching $73.40. The stock had a trading volume of 682,566 shares, compared to its average volume of 2,265,002. The stock has a market capitalization of $22.11 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.29 and a beta of 1.48. The stock has a 50-day simple moving average of $74.30 and a 200 day simple moving average of $74.59. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90. 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 (NYSE:STT) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.21. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.06 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. Analysts predict that State Street Co. will post 7.95 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Monday, July 1st will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Monday, July 1st. State Street’s dividend payout ratio (DPR) is presently 51.69%.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their price objective on shares of State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. UBS Group increased their target price on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $85.00 price target on shares of State Street in a report on Monday. Argus upped their target price on shares of State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $90.00 price target on shares of State Street in a report on Wednesday, June 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $83.88.

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.