State of Alaska Department of Revenue Has $3.28 Million Stock Position in State Street Co. (NYSE:STT)

State of Alaska Department of Revenue lowered its position in shares of State Street Co. (NYSE:STT) by 19.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,426 shares of the asset manager’s stock after selling 7,845 shares during the period. State of Alaska Department of Revenue’s holdings in State Street were worth $3,280,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of STT. Albion Financial Group UT acquired a new position in shares of State Street during the fourth quarter valued at about $25,000. Y.D. More Investments Ltd raised its stake 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 valued at $36,000 after buying an additional 197 shares during the period. Coastline Trust Co purchased a new position in State Street in the 3rd quarter valued at approximately $44,000. Friedenthal Financial bought a new stake in shares of State Street during the fourth quarter valued at about $49,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of State Street in the fourth quarter worth $56,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Performance

Shares of STT stock opened at $99.44 on Monday. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a 50 day simple moving average of $98.53 and a 200-day simple moving average of $91.76. The company has a market cap of $29.15 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43.

State Street (NYSE:STT) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion during 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 firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the firm posted $2.04 EPS. On average, equities analysts forecast that State Street Co. will post 9.6 EPS for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio is presently 36.89%.

Insiders Place Their Bets

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the business’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 completion of the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price target on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. Evercore ISI increased their target price on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Barclays boosted their price objective on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, State Street presently has an average rating of “Hold” and a consensus price target of $100.73.

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.