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

Atria Wealth Solutions Inc. lessened its stake in shares of State Street Co. (NYSE:STT) by 4.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,428 shares of the asset manager’s stock after selling 2,112 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in State Street were worth $3,467,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of STT. CVA Family Office LLC purchased a new stake in shares of State Street during the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC lifted its position in shares of State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after buying an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of State Street during the 4th quarter worth approximately $35,000. Bruce G. Allen Investments LLC acquired a new position in shares of State Street in the 4th quarter valued at $51,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of State Street in the 3rd quarter valued at $72,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Transactions at State Street

In other news, EVP Anthony Bisegna sold 4,258 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $73.64, for a total transaction of $313,559.12. Following the transaction, the executive vice president now directly owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Anthony Bisegna sold 4,258 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $73.64, for a total transaction of $313,559.12. Following the transaction, the executive vice president now directly owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the company’s stock in a transaction on 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 directly owns 149,063 shares in the company, valued at $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold a total of 18,864 shares of company stock valued at $1,390,597 in the last ninety days. 0.31% of the stock is currently owned by company insiders.

State Street Stock Performance

Shares of STT opened at $73.39 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.61. State Street Co. has a 1 year low of $62.78 and a 1 year high of $79.90. The stock has a market capitalization of $22.16 billion, a P/E ratio of 13.74, a P/E/G ratio of 1.30 and a beta of 1.52. The company’s fifty day moving average is $74.16 and its two-hundred day moving average is $72.79.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were paid a dividend of $0.69 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.76%. State Street’s dividend payout ratio (DPR) is presently 51.69%.

Analysts Set New Price Targets

A number of brokerages have recently commented on STT. Evercore ISI lifted their target price on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. The Goldman Sachs Group raised shares of State Street from a “neutral” rating to a “buy” rating and lifted their target price for the company from $69.00 to $92.00 in a report on Wednesday, January 3rd. Barclays lifted their target price on shares of State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. lifted their target price on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th. Finally, Bank of America reissued an “underperform” rating and issued a $81.00 price objective on shares of State Street in a research note on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.