Alaska Permanent Fund Corp Raises Position in State Street Co. (NYSE:STT)

Alaska Permanent Fund Corp raised its holdings in shares of State Street Co. (NYSE:STT) by 1.0% during the 4th quarter, HoldingsChannel reports. The fund owned 31,812 shares of the asset manager’s stock after acquiring an additional 312 shares during the quarter. Alaska Permanent Fund Corp’s holdings in State Street were worth $2,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. CVA Family Office LLC purchased a new position in shares of State Street during the 4th quarter worth $27,000. Venturi Wealth Management LLC lifted its stake 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 buying an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of State Street during the 4th quarter valued at $35,000. Bruce G. Allen Investments LLC purchased a new position in shares of State Street during the 4th quarter valued at $51,000. Finally, GAMMA Investing LLC purchased a new position in shares of State Street during the 4th quarter valued at $75,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

State Street stock traded down $1.30 during mid-day trading on Thursday, reaching $72.99. 504,431 shares of the company traded hands, compared to its average volume of 2,339,032. The firm’s fifty day moving average is $74.14 and its two-hundred day moving average is $72.68. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The company has a market capitalization of $22.04 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 1.32 and a beta of 1.52. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Thursday, March 28th. State Street’s dividend payout ratio is currently 51.69%.

Analyst Ratings Changes

A number of research firms recently weighed in on STT. UBS Group lifted their target price on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley upped their price target on shares of State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. upped their price target on shares of State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Royal Bank of Canada upped their price target on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Finally, Barclays upped their price target on shares of State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and a consensus price target of $84.04.

Insider Transactions at State Street

In other news, EVP Anthony Bisegna sold 4,258 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $73.64, for a total value of $313,559.12. Following the transaction, the executive vice president now directly owns 23,328 shares of the company’s stock, valued at $1,717,873.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the sale, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Anthony Bisegna sold 4,258 shares of State Street stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $73.64, for a total transaction of $313,559.12. Following the sale, the executive vice president now owns 23,328 shares of the company’s stock, valued at $1,717,873.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,864 shares of company stock valued at $1,390,597. Corporate insiders own 0.31% of the company’s stock.

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.