Alaska Permanent Fund Corp Raises Stock Holdings in State Street Co. (NYSE:STT)

Alaska Permanent Fund Corp raised its position in State Street Co. (NYSE:STT) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,812 shares of the asset manager’s stock after buying an additional 312 shares during the quarter. Alaska Permanent Fund Corp’s holdings in State Street were worth $2,464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of STT. Private Management Group Inc. grew its holdings in State Street by 1.0% in the fourth quarter. Private Management Group Inc. now owns 543,502 shares of the asset manager’s stock valued at $42,100,000 after purchasing an additional 5,542 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of State Street in the 4th quarter valued at approximately $75,000. Lorne Steinberg Wealth Management Inc. raised its position in shares of State Street by 1.0% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 39,145 shares of the asset manager’s stock valued at $3,032,000 after purchasing an additional 370 shares in the last quarter. Foster & Motley Inc. bought a new position in State Street during the 4th quarter worth $242,000. Finally, Duality Advisers LP bought a new position in State Street during the 4th quarter worth $284,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

In other news, CFO Eric W. Aboaf sold 12,000 shares of State Street 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 sale, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the sale, the executive vice president now directly owns 17,737 shares in the company, valued at $1,294,801. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now 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 quarter, insiders sold 18,864 shares of company stock worth $1,390,597. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on STT. Evercore ISI increased their price target on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Bank of America reaffirmed an “underperform” rating and set a $81.00 target price on shares of State Street in a report on Thursday, January 4th. Morgan Stanley upped their target price on State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. upped their target price on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods lowered their price objective on State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $84.04.

State Street Price Performance

Shares of State Street stock traded down $1.30 during midday trading on Thursday, hitting $72.99. 504,431 shares of the company were exchanged, compared to its average volume of 2,339,032. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The firm has a market cap of $22.04 billion, a P/E ratio of 13.91, a PEG ratio of 1.32 and a beta of 1.52. State Street Co. has a 52 week low of $62.78 and a 52 week high of $79.90. The firm has a 50 day simple moving average of $74.14 and a 200-day simple moving average of $72.68.

State Street Announces Dividend

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

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.