Kentucky Retirement Systems Insurance Trust Fund Purchases 6,705 Shares of State Street Co. (NYSE:STT)

Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 75.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,546 shares of the asset manager's stock after buying an additional 6,705 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in State Street were worth $1,526,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of STT. Albion Financial Group UT bought a new stake in shares of State Street during the 4th quarter worth $25,000. Y.D. More Investments Ltd lifted its position in shares of State Street by 116.6% during the 4th 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 stake in shares of State Street during the 3rd quarter worth $44,000. Friedenthal Financial bought a new stake in shares of State Street during the 4th quarter worth $49,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of State Street during the 3rd quarter worth $54,000. 87.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

STT has been the subject of several research reports. Barclays increased their target price on State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Truist Financial dropped their target price on State Street from $106.00 to $104.00 and set a "hold" rating for the company in a research report on Tuesday, January 21st. Wells Fargo & Company increased their target price on State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, January 2nd. JPMorgan Chase & Co. upgraded State Street from an "underweight" rating to a "neutral" rating and set a $95.00 target price for the company in a research report on Friday, December 20th. Finally, Morgan Stanley dropped their target price on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a research report on Friday, January 3rd. One research 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, the company presently has a consensus rating of "Hold" and a consensus price target of $100.73.

State Street Stock Performance

State Street stock traded down $0.91 during mid-day trading on Friday, reaching $98.74. 1,808,387 shares of the company's stock were exchanged, compared to its average volume of 1,973,938. The business's fifty day simple moving average is $98.58 and its 200 day simple moving average is $92.64. The firm has a market capitalization of $28.48 billion, a PE ratio of 11.98, a P/E/G ratio of 1.11 and a beta of 1.43. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT - Get Free Report) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period last year, the business posted $2.04 earnings per share. The business's revenue for the quarter was up 12.1% on a year-over-year basis. On average, sell-side analysts expect that State Street Co. will post 9.65 earnings per share for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend 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 State Street stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares of the company's stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the sale, the director now directly owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,020 shares of company stock valued at $2,674,661 over the last ninety 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.