Teachers Retirement System of The State of Kentucky decreased its holdings in shares of State Street Corp (NYSE:STT) by 18.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,959 shares of the asset manager’s stock after selling 7,500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in State Street were worth $2,158,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Perennial Advisors LLC acquired a new position in State Street during the 1st quarter worth approximately $25,000. Balentine LLC increased its position in State Street by 46.2% during the 2nd quarter. Balentine LLC now owns 462 shares of the asset manager’s stock worth $29,000 after purchasing an additional 146 shares during the period. Ninety One SA PTY Ltd purchased a new stake in shares of State Street during the 1st quarter worth approximately $44,000. Hanseatic Management Services Inc. boosted its stake in shares of State Street by 30.2% during the 2nd quarter. Hanseatic Management Services Inc. now owns 823 shares of the asset manager’s stock worth $52,000 after acquiring an additional 191 shares in the last quarter. Finally, Cerebellum GP LLC purchased a new stake in shares of State Street during the 2nd quarter worth approximately $82,000. Institutional investors own 90.33% of the company’s stock.
STT stock opened at $61.95 on Friday. The company has a market cap of $21.83 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 1.09 and a beta of 1.52. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $67.50 and a 200-day simple moving average of $61.59. State Street Corp has a 52 week low of $42.10 and a 52 week high of $85.89.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.08 annualized dividend and a yield of 3.36%. State Street’s dividend payout ratio is currently 33.71%.
STT has been the topic of several research analyst reports. Wolfe Research lowered State Street from an “outperform” rating to a “peer perform” rating and set a $72.00 price target on the stock. in a research note on Thursday, July 9th. Deutsche Bank reduced their target price on State Street from $68.00 to $67.00 and set a “hold” rating on the stock in a research note on Thursday, July 9th. Wells Fargo & Company upped their target price on State Street from $61.00 to $75.00 in a research note on Friday, June 5th. Seaport Global Securities began coverage on State Street in a research note on Wednesday, July 8th. They issued a “buy” rating and a $83.00 target price on the stock. Finally, ValuEngine raised State Street from a “strong sell” rating to a “sell” rating in a research note on Monday, August 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $76.00.
In related news, EVP John Lehner sold 500 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $63.55, for a total value of $31,775.00. Following the completion of the sale, the executive vice president now directly owns 23,860 shares in the company, valued at approximately $1,516,303. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael L. Richards sold 379 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $70.35, for a total transaction of $26,662.65. Following the completion of the transaction, the executive vice president now directly owns 20,180 shares of the company’s stock, valued at $1,419,663. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.
State Street Company Profile
State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
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