Wealthcare Advisory Partners LLC Buys 786 Shares of State Street Co. (NYSE:STT)

Wealthcare Advisory Partners LLC boosted its position in shares of State Street Co. (NYSE:STT) by 3.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,739 shares of the asset manager’s stock after buying an additional 786 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in State Street were worth $1,604,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC purchased a new stake in State Street in the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC lifted its stake in State Street by 92.5% in the fourth 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 period. Turtle Creek Wealth Advisors LLC bought a new stake in State Street in the fourth quarter valued at $35,000. Accent Capital Management LLC purchased a new position in State Street during the 4th quarter valued at $39,000. Finally, Quarry LP bought a new position in State Street in the 4th quarter worth $39,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Trading Up 0.3 %

NYSE:STT opened at $73.05 on Friday. The stock has a market cap of $22.01 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.27 and a beta of 1.47. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The company’s 50 day moving average price is $74.30 and its 200-day moving average price is $74.69. State Street Co. has a 52 week low of $62.78 and a 52 week high of $79.90.

State Street (NYSE:STT) last issued its earnings results on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, beating the consensus estimate of $1.48 by $0.21. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.06 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. On average, equities research analysts forecast that State Street Co. will post 7.94 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Monday, July 1st will be issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.76 annualized dividend and a yield of 3.78%. State Street’s payout ratio is 51.69%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Keefe, Bruyette & Woods cut their price objective on State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a research report on Thursday. Argus increased their target price on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. UBS Group lifted their price target on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, Evercore ISI upped their price target on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus 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.