Orion Portfolio Solutions LLC Has $1.07 Million Stake in State Street Co. (NYSE:STT)

Orion Portfolio Solutions LLC reduced its position in shares of State Street Co. (NYSE:STT) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,864 shares of the asset manager’s stock after selling 178 shares during the period. Orion Portfolio Solutions LLC’s holdings in State Street were worth $1,066,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Adero Partners LLC lifted its position in State Street by 3.6% during the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock worth $285,000 after buying an additional 100 shares in the last quarter. Peapack Gladstone Financial Corp raised its holdings in State Street by 2.0% during the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock worth $467,000 after acquiring an additional 103 shares in the last quarter. Jacobi Capital Management LLC boosted its position in State Street by 1.0% during the fourth quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock valued at $1,201,000 after purchasing an additional 121 shares during the last quarter. Moors & Cabot Inc. grew its stake in State Street by 0.7% in the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager’s stock valued at $1,799,000 after purchasing an additional 131 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its position in shares of State Street by 1.4% during the 4th quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock worth $986,000 after purchasing an additional 138 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

STT has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a report on Friday, December 20th. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Morgan Stanley dropped their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Citigroup reduced their target price on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $101.07.

Insiders Place Their Bets

In other news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares of the company’s stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Performance

Shares of NYSE:STT opened at $76.23 on Friday. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The company’s 50 day moving average price is $94.09 and its two-hundred day moving average price is $94.52. The firm has a market cap of $21.99 billion, a PE ratio of 9.25, a PEG ratio of 1.11 and a beta of 1.42. 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 (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company earned $2.04 EPS. Equities research analysts predict that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a dividend of $0.76 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.99%. State Street’s dividend payout ratio is 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.