State Street Co. (NYSE:STT) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its holdings in State Street Co. (NYSE:STT) by 10.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,324 shares of the asset manager’s stock after selling 3,413 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in State Street were worth $2,194,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new position in shares of State Street during the 4th quarter valued at $27,000. Venturi Wealth Management LLC increased its position in shares of State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 184 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in shares of State Street during the 4th quarter valued at $35,000. Quarry LP acquired a new position in shares of State Street during the 4th quarter valued at $39,000. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of State Street during the 4th quarter valued at $51,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on STT shares. UBS Group lifted their price target on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. raised their price objective on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Evercore ISI raised their price objective on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 price objective on shares of State Street in a research note on Wednesday, June 12th. Finally, Argus raised their price objective on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. 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 company. Based on data from MarketBeat, State Street currently has an average rating of “Hold” and an average price target of $84.04.

State Street Price Performance

STT opened at $72.39 on Friday. The stock has a market cap of $21.81 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.24 and a beta of 1.47. State Street Co. has a 1 year low of $62.78 and a 1 year high of $79.90. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.90. The stock has a fifty day moving average price of $74.42 and a 200 day moving average price of $74.69.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.21. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.06 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. Analysts forecast that State Street Co. will post 7.94 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Monday, July 1st will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.76 dividend on an annualized basis and a yield of 3.81%. State Street’s payout ratio is 51.69%.

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.