John G Ullman & Associates Inc. Has $3.52 Million Stock Position in State Street Co. (NYSE:STT)

John G Ullman & Associates Inc. reduced its position in State Street Co. (NYSE:STT) by 2.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 45,510 shares of the asset manager’s stock after selling 1,300 shares during the period. John G Ullman & Associates Inc.’s holdings in State Street were worth $3,519,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. CVA Family Office LLC acquired a new stake in State Street in the 4th quarter valued at about $27,000. Venturi Wealth Management LLC lifted its stake in State Street by 92.5% in 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 last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in State Street in the 4th quarter valued at about $35,000. Norwood Financial Corp acquired a new stake in State Street in the 1st quarter valued at about $35,000. Finally, Accent Capital Management LLC acquired a new stake in State Street in the 4th quarter valued at about $39,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. UBS Group increased their price target on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Keefe, Bruyette & Woods lowered their price target on shares of State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. JPMorgan Chase & Co. increased their price target on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th. Evercore ISI reissued an “outperform” rating and issued a $88.00 price target on shares of State Street in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $85.00 price target on shares of State Street in a report on Monday, July 1st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $83.11.

State Street Price Performance

NYSE:STT traded up $1.02 during mid-day trading on Thursday, reaching $76.51. The stock had a trading volume of 1,831,213 shares, compared to its average volume of 2,265,452. The stock has a 50-day simple moving average of $74.45 and a two-hundred day simple moving average of $74.51. The stock has a market capitalization of $23.05 billion, a PE ratio of 14.33, a P/E/G ratio of 1.27 and a beta of 1.48. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.61. State Street Co. has a 12 month low of $62.78 and a 12 month high of $79.90.

State Street (NYSE:STT) last announced 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 business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.06 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. On average, equities analysts anticipate that State Street Co. will post 7.95 earnings per share for the current year.

State Street Dividend Announcement

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 paid a $0.69 dividend. The ex-dividend date is Monday, July 1st. This represents a $2.76 dividend on an annualized basis and a yield of 3.61%. State Street’s dividend payout ratio (DPR) is 51.69%.

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.