Gotham Asset Management LLC Has $2.05 Million Stake in State Street Co. (NYSE:STT)

Gotham Asset Management LLC boosted its holdings in State Street Co. (NYSE:STT) by 22.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,906 shares of the asset manager’s stock after purchasing an additional 3,817 shares during the quarter. Gotham Asset Management LLC’s holdings in State Street were worth $2,052,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of STT. Albion Financial Group UT acquired a new stake in State Street in the 4th quarter worth about $25,000. Y.D. More Investments Ltd raised its position 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 in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of State Street in the 4th quarter valued at approximately $42,000. Coppell Advisory Solutions LLC raised its position in shares of State Street by 2,942.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock valued at $42,000 after buying an additional 412 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its position in shares of State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock valued at $47,000 after buying an additional 311 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

STT has been the subject of several analyst reports. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Evercore ISI dropped their target price on shares of State Street from $109.00 to $106.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Citigroup dropped their target price on shares of State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, The Goldman Sachs Group set a $98.00 price objective on shares of State Street and gave the stock a “buy” rating in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $102.15.

Insider Activity at State Street

In related news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction on Tuesday, February 18th. The stock was 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 in the company, valued at $10,002,300. This represents a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value 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 disclosure for this sale can be found here. Insiders sold 15,820 shares of company stock worth $1,567,972 over the last three months. Company insiders own 0.29% of the company’s stock.

State Street Price Performance

Shares of NYSE:STT opened at $98.15 on Friday. The company has a market cap of $27.99 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.11 and a beta of 1.42. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a 50 day simple moving average of $86.97 and a 200 day simple moving average of $93.77. State Street Co. has a one year low of $70.20 and a one year high of $103.00.

State Street (NYSE:STT) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same quarter in the previous year, the business earned $1.69 earnings per share. Research analysts predict that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a $0.76 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.10%. State Street’s payout ratio is 34.12%.

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.