Prio Wealth Limited Partnership Sells 1,628 Shares of State Street Co. (NYSE:STT)

Prio Wealth Limited Partnership trimmed its position in State Street Co. (NYSE:STT) by 36.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,872 shares of the asset manager’s stock after selling 1,628 shares during the period. Prio Wealth Limited Partnership’s holdings in State Street were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of STT. KBC Group NV boosted its holdings in State Street by 117.5% in the fourth quarter. KBC Group NV now owns 162,516 shares of the asset manager’s stock worth $12,589,000 after acquiring an additional 87,811 shares in the last quarter. NEOS Investment Management LLC lifted its position in State Street by 17.4% during the fourth quarter. NEOS Investment Management LLC now owns 4,375 shares of the asset manager’s stock valued at $339,000 after purchasing an additional 647 shares during the period. Tower Research Capital LLC TRC boosted its position in State Street by 9.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 44,616 shares of the asset manager’s stock worth $3,456,000 after purchasing an additional 3,802 shares in the last quarter. Morningstar Investment Management LLC purchased a new stake in State Street during the fourth quarter worth $779,000. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of State Street by 298.6% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 37,888 shares of the asset manager’s stock worth $2,935,000 after acquiring an additional 28,382 shares in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank of Canada lifted their price objective on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods cut their target price on shares of State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a research note on Thursday, June 27th. Wolfe Research reiterated an “underperform” rating and issued a $73.00 price target on shares of State Street in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group lifted their price objective on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, State Street presently has an average rating of “Hold” and a consensus price target of $90.11.

State Street Price Performance

Shares of NYSE STT opened at $85.98 on Thursday. The stock has a fifty day moving average price of $83.89 and a 200 day moving average price of $78.38. State Street Co. has a 1-year low of $62.78 and a 1-year high of $89.49. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market cap of $25.90 billion, a PE ratio of 16.10, a P/E/G ratio of 1.36 and a beta of 1.48.

State Street (NYSE:STT) last issued its earnings results on Tuesday, July 16th. The asset manager reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.12. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. State Street had a net margin of 8.98% and a return on equity of 11.78%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.17 earnings per share. Sell-side analysts forecast that State Street Co. will post 8.17 EPS for the current year.

State Street Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be issued a $0.76 dividend. This is a boost from State Street’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Tuesday, October 1st. State Street’s dividend payout ratio (DPR) is currently 56.93%.

About State Street

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.