State of Alaska Department of Revenue lowered its position in shares of State Street Corp (NYSE:STT) by 12.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 98,062 shares of the asset manager’s stock after selling 14,031 shares during the period. State of Alaska Department of Revenue’s holdings in State Street were worth $7,756,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV acquired a new position in State Street during the 2nd quarter worth about $31,000. Reilly Financial Advisors LLC lifted its holdings in State Street by 91.7% during the 3rd quarter. Reilly Financial Advisors LLC now owns 627 shares of the asset manager’s stock worth $37,000 after buying an additional 300 shares during the period. Vestor Capital LLC acquired a new position in State Street during the 3rd quarter worth about $41,000. Evoke Wealth LLC acquired a new position in State Street during the 3rd quarter worth about $46,000. Finally, CSat Investment Advisory L.P. lifted its holdings in State Street by 472.1% during the 2nd quarter. CSat Investment Advisory L.P. now owns 944 shares of the asset manager’s stock worth $53,000 after buying an additional 779 shares during the period. Institutional investors and hedge funds own 89.95% of the company’s stock.
In other news, CEO Robert Willett sold 36,706 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $51.80, for a total value of $1,901,370.80. Also, EVP Karen C. Keenan sold 4,778 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $74.29, for a total value of $354,957.62. Insiders sold a total of 118,984 shares of company stock worth $7,709,865 over the last three months. 0.40% of the stock is owned by company insiders.
STT has been the topic of several recent research reports. ValuEngine downgraded State Street from a “hold” rating to a “sell” rating in a report on Wednesday, December 4th. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and set a $86.00 target price on the stock in a report on Monday, December 9th. Wolfe Research raised State Street from a “peer perform” rating to an “outperform” rating in a report on Monday. Jefferies Financial Group raised State Street from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $92.00 in a report on Tuesday. Finally, UBS Group lifted their target price on State Street from $65.00 to $81.00 and gave the stock a “neutral” rating in a report on Tuesday, December 17th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $77.40.
Shares of NYSE:STT opened at $82.92 on Friday. The company has a market capitalization of $29.74 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 1.51 and a beta of 1.58. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.48 and a quick ratio of 0.48. The business’s 50-day moving average is $78.06 and its 200-day moving average is $63.53. State Street Corp has a 1 year low of $48.62 and a 1 year high of $82.94.
State Street (NYSE:STT) last announced its quarterly earnings data on Friday, October 18th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.11. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.86 billion. State Street had a return on equity of 11.34% and a net margin of 16.18%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.87 EPS. Analysts anticipate that State Street Corp will post 5.87 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Tuesday, December 31st. State Street’s dividend payout ratio is 28.81%.
State Street Profile
State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
Want to see what other hedge funds are holding STT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for State Street Corp (NYSE:STT).
Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.