Kentucky Retirement Systems Insurance Trust Fund Has $1.53 Million Holdings in State Street Co. (NYSE:STT)

Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of State Street Co. (NYSE:STT) by 75.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 15,546 shares of the asset manager’s stock after acquiring an additional 6,705 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in State Street were worth $1,526,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of STT. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in State Street in the fourth quarter valued at $37,026,000. Kestra Investment Management LLC acquired a new position in State Street in the fourth quarter valued at $426,000. Venturi Wealth Management LLC lifted its holdings in State Street by 60.1% in the fourth quarter. Venturi Wealth Management LLC now owns 1,114 shares of the asset manager’s stock valued at $109,000 after buying an additional 418 shares during the period. D.A. Davidson & CO. lifted its holdings in State Street by 4.0% in the fourth quarter. D.A. Davidson & CO. now owns 126,971 shares of the asset manager’s stock valued at $12,462,000 after buying an additional 4,907 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in State Street by 0.9% in the fourth quarter. CIBC Asset Management Inc now owns 51,500 shares of the asset manager’s stock valued at $5,055,000 after buying an additional 444 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insiders Place Their Bets

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by insiders.

State Street Trading Up 1.2 %

NYSE:STT opened at $100.40 on Wednesday. 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 moving average of $98.59 and a 200-day moving average of $92.54. The company has a market cap of $28.96 billion, a PE ratio of 12.18, a PEG ratio of 1.11 and a beta of 1.43. State Street Co. has a one year low of $70.20 and a one year high of $103.00.

State Street (NYSE:STT) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the firm posted $2.04 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities research analysts expect that State Street Co. will post 9.65 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s payout ratio is 36.89%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Truist Financial dropped their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Barclays lifted their price target on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company lifted their price target on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Finally, StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $100.73.

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.