GAMMA Investing LLC Takes $75,000 Position in State Street Co. (NYSE:STT)

GAMMA Investing LLC purchased a new stake in State Street Co. (NYSE:STT) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,020 shares of the asset manager’s stock, valued at approximately $75,000.

Several other large investors have also modified their holdings of STT. AustralianSuper Pty Ltd lifted its stake in shares of State Street by 327.0% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,325,417 shares of the asset manager’s stock valued at $88,750,000 after purchasing an additional 1,015,022 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in State Street during the 4th quarter worth about $45,687,000. Private Management Group Inc. acquired a new position in State Street during the 3rd quarter worth about $36,022,000. Metropolis Capital Ltd lifted its stake in State Street by 18.4% during the 4th quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager’s stock worth $268,170,000 after acquiring an additional 537,431 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in State Street by 122.8% during the 3rd quarter. AQR Capital Management LLC now owns 884,742 shares of the asset manager’s stock worth $59,242,000 after acquiring an additional 487,671 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling

In related news, EVP Anthony Bisegna sold 4,258 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the transaction, the executive vice president now owns 23,328 shares in the company, valued at approximately $1,717,873.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Anthony Bisegna sold 4,258 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the transaction, the executive vice president now owns 23,328 shares in the company, valued at approximately $1,717,873.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold 18,864 shares of company stock worth $1,390,597 in the last quarter. 0.31% of the stock is owned by insiders.

State Street Trading Down 2.0 %

STT opened at $72.49 on Wednesday. State Street Co. has a one year low of $62.78 and a one year high of $79.90. The company has a market cap of $21.89 billion, a P/E ratio of 13.57, a PEG ratio of 1.31 and a beta of 1.52. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.61. The business’s 50-day simple moving average is $74.21 and its 200-day simple moving average is $72.97.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were paid a dividend of $0.69 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a yield of 3.81%. State Street’s dividend payout ratio is presently 51.69%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. The Goldman Sachs Group raised State Street from a “neutral” rating to a “buy” rating and increased their target price for the stock from $69.00 to $92.00 in a research note on Wednesday, January 3rd. Royal Bank of Canada increased their target price on State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Evercore ISI increased their target price 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 issued a $81.00 price target on shares of State Street in a research report on Thursday, January 4th. Finally, JPMorgan Chase & Co. increased their price target on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $84.04.

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.