Retirement Systems of Alabama Has $5.27 Million Stock Holdings in State Street Co. (NYSE:STT)

Retirement Systems of Alabama decreased its holdings in shares of State Street Co. (NYSE:STT) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,009 shares of the asset manager’s stock after selling 4,038 shares during the quarter. Retirement Systems of Alabama’s holdings in State Street were worth $5,268,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise raised its holdings in State Street by 54.9% during the third quarter. Banque Cantonale Vaudoise now owns 10,839 shares of the asset manager’s stock valued at $726,000 after buying an additional 3,841 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in State Street in the 4th quarter worth approximately $45,687,000. Crestwood Advisors Group LLC boosted its position in State Street by 11.0% during the third quarter. Crestwood Advisors Group LLC now owns 83,069 shares of the asset manager’s stock worth $5,562,000 after purchasing an additional 8,202 shares during the period. Ferguson Wellman Capital Management Inc. grew its holdings in State Street by 3.7% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 484,411 shares of the asset manager’s stock valued at $37,522,000 after purchasing an additional 17,270 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in shares of State Street by 4.9% in the fourth quarter. Federated Hermes Inc. now owns 270,342 shares of the asset manager’s stock valued at $20,941,000 after purchasing an additional 12,594 shares during the period. Institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on STT. JPMorgan Chase & Co. raised their target price on shares of State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Keefe, Bruyette & Woods cut their price objective on State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. Royal Bank of Canada lifted their price target on State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. UBS Group increased their price objective on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, Evercore ISI upped their target price on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Two 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 data from MarketBeat, State Street has an average rating of “Hold” and an average price target of $84.04.

Insiders Place Their Bets

In other news, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of 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 this link. In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at $1,294,801. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the sale, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,864 shares of company stock valued at $1,390,597. 0.31% of the stock is currently owned by corporate insiders.

State Street Stock Up 1.6 %

Shares of NYSE STT opened at $74.39 on Monday. State Street Co. has a 52-week low of $62.78 and a 52-week high of $79.90. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.61 and a current ratio of 0.61. The business has a fifty day moving average of $74.26 and a two-hundred day moving average of $73.11. The stock has a market cap of $22.41 billion, a PE ratio of 13.93, a PEG ratio of 1.32 and a beta of 1.52.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.21. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.06 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. As a group, equities research analysts expect that State Street Co. will post 7.96 earnings per share for the current fiscal year.

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 was Thursday, March 28th. This represents a $2.76 annualized dividend and a yield of 3.71%. State Street’s payout ratio is 51.69%.

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.