Simplicity Solutions LLC Sells 279 Shares of State Street Co. (NYSE:STT)

Simplicity Solutions LLC lowered its position in State Street Co. (NYSE:STT) by 3.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,199 shares of the asset manager’s stock after selling 279 shares during the period. Simplicity Solutions LLC’s holdings in State Street were worth $558,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC purchased a new stake in shares of State Street in the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC grew its stake in shares of State Street by 92.5% in 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 in the 4th quarter worth approximately $35,000. State of Wyoming grew its stake in shares of State Street by 51.3% in the 2nd quarter. State of Wyoming now owns 619 shares of the asset manager’s stock worth $45,000 after buying an additional 210 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of State Street by 69.2% in the 1st quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock worth $50,000 after buying an additional 234 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling

In related news, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of 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. In the last three months, insiders have sold 18,864 shares of company stock valued at $1,390,597. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on STT. Morgan Stanley upped their price target on State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday. Evercore ISI increased their target price on State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. UBS Group increased their target price on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. The Goldman Sachs Group upgraded State Street from a “neutral” rating to a “buy” rating and increased their target price for the company from $69.00 to $92.00 in a research note on Wednesday, January 3rd. Finally, Argus increased their target price on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $84.04.

State Street Price Performance

NYSE STT opened at $73.04 on Friday. The business’s fifty day moving average price is $73.99 and its 200-day moving average price is $72.37. The stock has a market capitalization of $22.05 billion, a price-to-earnings ratio of 13.68, a PEG 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. State Street Co. has a 1-year low of $62.78 and a 1-year high of $79.90.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.21. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.95 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.07 EPS. On average, equities analysts predict that State Street Co. will post 7.91 earnings per share for the current year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were issued a dividend of $0.69 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.76 annualized dividend and a dividend yield of 3.78%. State Street’s payout ratio is 51.69%.

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.