AlphaQuest LLC Has $1.63 Million Position in State Street Co. (NYSE:STT)

AlphaQuest LLC reduced its holdings in State Street Co. (NYSE:STT) by 19.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,630 shares of the asset manager’s stock after selling 4,086 shares during the period. AlphaQuest LLC’s holdings in State Street were worth $1,632,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new position in State Street in the 4th quarter worth approximately $272,000. KBC Group NV increased its position in State Street by 20.5% in the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock worth $6,607,000 after buying an additional 12,707 shares during the period. Janney Montgomery Scott LLC increased its position in State Street by 11.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock worth $7,289,000 after buying an additional 7,446 shares during the period. Merit Financial Group LLC bought a new position in State Street in the 4th quarter worth approximately $395,000. Finally, SYM FINANCIAL Corp bought a new position in State Street in the 4th quarter worth approximately $244,000. 87.44% of the stock is owned by institutional investors.

State Street Price Performance

Shares of STT stock opened at $89.72 on Friday. The stock’s fifty day simple moving average is $97.91 and its 200 day simple moving average is $94.02. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $25.88 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 1.11 and a beta of 1.44. State Street Co. has a one year low of $70.20 and a one year high of $103.00.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate of $2.29 by $0.31. The business 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%. State Street’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. On average, analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio is currently 36.89%.

Insiders Place Their Bets

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on STT shares. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Morgan Stanley lowered their price objective on State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a research report on Friday, December 20th. Finally, StockNews.com cut State Street from a “buy” rating to a “hold” rating in a research report on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, State Street has a consensus rating of “Hold” and an average target price of $101.20.

About State Street

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.