Stock Yards Bank & Trust Co. Has $891,000 Position in State Street Co. (NYSE:STT)

Stock Yards Bank & Trust Co. trimmed its holdings in shares of State Street Co. (NYSE:STT) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,508 shares of the asset manager’s stock after selling 300 shares during the period. Stock Yards Bank & Trust Co.’s holdings in State Street were worth $891,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in STT. CWM LLC lifted its holdings in State Street by 17.2% during the 3rd quarter. CWM LLC now owns 5,912 shares of the asset manager’s stock valued at $396,000 after purchasing an additional 866 shares during the last quarter. HB Wealth Management LLC boosted its stake in State Street by 5.6% in the third quarter. HB Wealth Management LLC now owns 3,390 shares of the asset manager’s stock worth $227,000 after purchasing an additional 181 shares in the last quarter. Caprock Group LLC increased its position in State Street by 7.4% in the 3rd quarter. Caprock Group LLC now owns 4,317 shares of the asset manager’s stock valued at $292,000 after acquiring an additional 298 shares during the period. NovaPoint Capital LLC lifted its holdings in shares of State Street by 2.5% during the third quarter. NovaPoint Capital LLC now owns 41,368 shares of the asset manager’s stock worth $2,770,000 after purchasing an additional 1,016 shares during the period. Finally, Hennessy Advisors Inc. raised its position in State Street by 33.3% during the 3rd quarter. Hennessy Advisors Inc. now owns 4,000 shares of the asset manager’s stock worth $268,000 after purchasing an additional 1,000 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Stock Performance

NYSE STT opened at $74.40 on Wednesday. The company has a market capitalization of $22.46 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.32 and a beta of 1.52. 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 52-week low of $62.78 and a 52-week high of $79.90. The company has a 50-day simple moving average of $74.08 and a 200 day simple moving average of $72.67.

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 annualized dividend and a dividend yield of 3.71%. State Street’s payout ratio is currently 51.69%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STT. JPMorgan Chase & Co. raised their price objective on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Barclays boosted their target price on State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada raised their price objective on State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Argus upped their target price on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Finally, The Goldman Sachs Group raised shares of State Street from a “neutral” rating to a “buy” rating and lifted their price target for the company from $69.00 to $92.00 in a research report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $84.04.

Insider Buying and Selling

In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of the 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 completion of the transaction, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other State Street news, EVP Anthony Bisegna sold 4,258 shares of the business’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 sale, the executive vice president now owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction on Thursday, February 29th. The shares were 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 owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,864 shares of company stock valued at $1,390,597. 0.31% of the stock is owned by company insiders.

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.