Total Clarity Wealth Management Inc. Sells 784 Shares of State Street Co. (NYSE:STT)

Total Clarity Wealth Management Inc. reduced its position in State Street Co. (NYSE:STT) by 10.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,627 shares of the asset manager’s stock after selling 784 shares during the period. Total Clarity Wealth Management Inc.’s holdings in State Street were worth $650,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in STT. Albion Financial Group UT purchased a new stake in State Street during the 4th quarter valued at $25,000. Coastline Trust Co purchased a new stake in shares of State Street in the 3rd quarter worth $44,000. Friedenthal Financial purchased a new stake in shares of State Street in the 4th quarter worth $49,000. R Squared Ltd purchased a new stake in shares of State Street in the 4th quarter worth $58,000. Finally, Capital Performance Advisors LLP bought a new position in State Street in the 3rd quarter worth $54,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on STT shares. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. Evercore ISI upped their target price on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Finally, Morgan Stanley dropped their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, State Street has an average rating of “Hold” and an average target price of $100.73.

Insider Buying and Selling

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by corporate insiders.

State Street Stock Down 0.6 %

Shares of NYSE STT opened at $101.61 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The stock has a market capitalization of $29.79 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 1.13 and a beta of 1.43. The firm’s 50-day moving average price is $98.42 and its 200-day moving average price is $91.05.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the company posted $2.04 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities research analysts anticipate that State Street Co. will post 9.6 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is currently 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.