Atria Wealth Solutions Inc. Decreases Holdings in State Street Co. (NYSE:STT)

Atria Wealth Solutions Inc. decreased its position in shares of State Street Co. (NYSE:STT) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,575 shares of the asset manager’s stock after selling 905 shares during the period. Atria Wealth Solutions Inc.’s holdings in State Street were worth $2,019,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Albion Financial Group UT purchased a new position in shares of State Street in the fourth quarter worth $25,000. Y.D. More Investments Ltd raised its holdings in shares of State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after buying an additional 197 shares during the last quarter. Coastline Trust Co purchased a new position in shares of State Street in the third quarter worth $44,000. Friedenthal Financial purchased a new position in shares of State Street in the fourth quarter worth $49,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of State Street in the fourth quarter worth $56,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

STT opened at $98.74 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market cap of $28.48 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 1.11 and a beta of 1.43. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The firm’s fifty day simple moving average is $98.55 and its two-hundred day simple moving average is $92.90.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $2.04 earnings per share. Equities analysts anticipate that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s payout ratio is 36.89%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on STT shares. Wells Fargo & Company raised their price target on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Truist Financial cut their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Finally, Barclays increased their price objective on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $100.73.

Insider Buying and Selling at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,020 shares of company stock valued at $2,674,661 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

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.