Atria Wealth Solutions Inc. Trims Stock Position in State Street Co. (NYSE:STT)

Atria Wealth Solutions Inc. cut its position in shares of State Street Co. (NYSE:STT) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,575 shares of the asset manager’s stock after selling 905 shares during the period. Atria Wealth Solutions Inc.’s holdings in State Street were worth $2,019,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of STT. Albion Financial Group UT acquired a new stake in shares of State Street during the fourth quarter valued at about $25,000. Y.D. More Investments Ltd increased its position in shares of State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 197 shares during the last quarter. Coastline Trust Co acquired a new stake in shares of State Street during the third quarter valued at about $44,000. Friedenthal Financial acquired a new stake in shares of State Street during the fourth quarter valued at about $49,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of State Street during the third quarter valued at about $54,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,020 shares of company stock worth $2,674,661. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on STT. Morgan Stanley dropped their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Barclays lifted 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. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Truist Financial dropped their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $100.73.

State Street Trading Down 0.9 %

NYSE STT opened at $98.74 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The stock has a market capitalization of $28.48 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The firm has a 50 day moving average of $98.55 and a two-hundred day moving average of $92.90.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.04 EPS. As a group, research analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.08%. State Street’s dividend payout ratio is presently 36.89%.

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.