State of Alaska Department of Revenue Trims Stock Holdings in State Street Co. (NYSE:STT)

State of Alaska Department of Revenue lowered its position in State Street Co. (NYSE:STT - Free Report) by 19.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 33,426 shares of the asset manager's stock after selling 7,845 shares during the period. State of Alaska Department of Revenue's holdings in State Street were worth $3,280,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Albion Financial Group UT bought a new stake in State Street in the fourth quarter valued at $25,000. Y.D. More Investments Ltd grew its stake in shares of State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after buying an additional 197 shares during the period. Coastline Trust Co bought a new stake in State Street in the 3rd quarter valued at about $44,000. Friedenthal Financial acquired a new position in State Street during the 4th quarter worth approximately $49,000. Finally, Hager Investment Management Services LLC bought a new position in State Street in the fourth quarter worth approximately $56,000. Institutional investors own 87.44% of the company's stock.

Analyst Ratings Changes

STT has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $103.00 price objective (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Truist Financial dropped their price objective on shares of State Street from $106.00 to $104.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. Morgan Stanley lowered their target price on shares of State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a report on Friday, January 3rd. Finally, Wells Fargo & Company lifted their price target on State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, State Street currently has an average rating of "Hold" and a consensus price target of $100.73.

State Street Price Performance

NYSE:STT traded up $0.83 during trading hours on Thursday, hitting $99.05. 1,382,460 shares of the company's stock traded hands, compared to its average volume of 1,971,043. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The business's fifty day simple moving average is $98.56 and its two-hundred day simple moving average is $92.05. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a market cap of $29.04 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.12 and a beta of 1.43.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company's revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $2.04 EPS. On average, research analysts anticipate that State Street Co. will post 9.6 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street's dividend payout ratio is currently 36.89%.

Insider Transactions at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares of the company's stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by insiders.

State Street 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.