Kentucky Retirement Systems Has $2.01 Million Stock Position in State Street Co. (NYSE:STT)

Kentucky Retirement Systems trimmed its position in State Street Co. (NYSE:STT) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,521 shares of the asset manager’s stock after selling 282 shares during the quarter. Kentucky Retirement Systems’ holdings in State Street were worth $2,014,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Albion Financial Group UT acquired a new stake in State Street in the fourth quarter worth about $25,000. Y.D. More Investments Ltd boosted its holdings in State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after buying an additional 197 shares during the last quarter. Coastline Trust Co bought a new position in State Street during the third quarter worth about $44,000. Friedenthal Financial bought a new position in State Street during the fourth quarter worth about $49,000. Finally, Capital Performance Advisors LLP bought a new position in State Street during the third quarter worth about $54,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Trading Down 0.9 %

NYSE STT opened at $98.74 on Friday. The stock has a market capitalization of $28.48 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 1.11 and a beta of 1.43. The stock’s 50 day moving average price is $98.55 and its two-hundred day moving average price is $92.90. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.04 EPS. As a group, analysts anticipate that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is 36.89%.

Analysts Set New Price Targets

STT has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Morgan Stanley reduced their target price on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a report on Friday, December 20th. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Finally, Wells Fargo & Company lifted their price objective on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, State Street has a consensus rating of “Hold” and an average price target of $100.73.

Insiders Place Their Bets

In related news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,020 shares of company stock valued at $2,674,661 in the last 90 days. 0.31% of the stock is currently owned by insiders.

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.