Legacy Capital Wealth Partners LLC Sells 630 Shares of State Street Co. (NYSE:STT)

Legacy Capital Wealth Partners LLC decreased its position in State Street Co. (NYSE:STT) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,043 shares of the asset manager’s stock after selling 630 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in State Street were worth $546,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in STT. Banque Cantonale Vaudoise increased its holdings in State Street by 54.9% during the third quarter. Banque Cantonale Vaudoise now owns 10,839 shares of the asset manager’s stock valued at $726,000 after buying an additional 3,841 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in State Street during the fourth quarter valued at about $45,687,000. Crestwood Advisors Group LLC increased its position in State Street by 11.0% in the third quarter. Crestwood Advisors Group LLC now owns 83,069 shares of the asset manager’s stock worth $5,562,000 after buying an additional 8,202 shares in the last quarter. Ferguson Wellman Capital Management Inc. lifted its position in shares of State Street by 3.7% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 484,411 shares of the asset manager’s stock valued at $37,522,000 after buying an additional 17,270 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of State Street by 4.9% during the 4th quarter. Federated Hermes Inc. now owns 270,342 shares of the asset manager’s stock valued at $20,941,000 after acquiring an additional 12,594 shares during the period. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Performance

Shares of STT stock opened at $73.39 on Monday. State Street Co. has a 1 year low of $62.78 and a 1 year high of $79.90. The firm has a market capitalization of $22.16 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The business has a fifty day moving average of $74.16 and a 200 day moving average of $72.85.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.76%. The ex-dividend date was Thursday, March 28th. State Street’s payout ratio is 51.69%.

Insider Activity

In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the transaction, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the sale, the executive vice president now owns 17,737 shares in the company, valued at $1,294,801. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the transaction, the chief financial officer now owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold 18,864 shares of company stock valued at $1,390,597 in the last ninety days. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

STT has been the topic of a number of analyst reports. Bank of America restated an “underperform” rating and set a $81.00 target price on shares of State Street in a research note on Thursday, January 4th. Keefe, Bruyette & Woods dropped their target price on State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. JPMorgan Chase & Co. lifted their price objective on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th. Royal Bank of Canada upped their price objective on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Finally, UBS Group raised their target price on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Two 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $84.04.

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.