AlphaCore Capital LLC Has $937,000 Stake in State Street Corporation $STT

AlphaCore Capital LLC lifted its holdings in State Street Corporation (NYSE:STT) by 244.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,264 shares of the asset manager’s stock after buying an additional 5,153 shares during the period. AlphaCore Capital LLC’s holdings in State Street were worth $937,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in STT. JPL Wealth Management LLC acquired a new stake in State Street during the third quarter worth approximately $29,000. Flagship Wealth Advisors LLC acquired a new position in State Street in the third quarter valued at approximately $35,000. Measured Wealth Private Client Group LLC acquired a new position in State Street in the third quarter valued at approximately $35,000. Ameriflex Group Inc. boosted its holdings in shares of State Street by 102.5% during the 3rd quarter. Ameriflex Group Inc. now owns 318 shares of the asset manager’s stock worth $37,000 after buying an additional 161 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC grew its position in shares of State Street by 38.2% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after buying an additional 94 shares during the period. Institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling

In related news, COO Mostapha Tahiri sold 9,611 shares of State Street stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $152.93, for a total value of $1,469,810.23. Following the sale, the chief operating officer owned 64,642 shares of the company’s stock, valued at approximately $9,885,701.06. The trade was a 12.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael L. Richards sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the transaction, the executive vice president owned 43,522 shares in the company, valued at approximately $6,697,600.58. The trade was a 6.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 28,711 shares of company stock valued at $3,933,032. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Seaport Research Partners reaffirmed a “buy” rating and issued a $170.00 price target on shares of State Street in a research note on Monday, April 20th. Zacks Research upgraded State Street from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. boosted their target price on State Street from $137.50 to $158.50 and gave the company a “neutral” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods upped their price target on State Street from $157.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Finally, Citigroup raised their price objective on State Street from $150.00 to $172.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $155.77.

State Street Price Performance

Shares of NYSE STT opened at $153.81 on Tuesday. The stock has a market cap of $42.57 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 0.84 and a beta of 1.45. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57. State Street Corporation has a fifty-two week low of $94.19 and a fifty-two week high of $156.18. The firm’s 50-day simple moving average is $137.35 and its 200 day simple moving average is $129.89.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.20. State Street had a return on equity of 14.22% and a net margin of 13.47%.The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the company posted $2.04 earnings per share. State Street’s revenue was up 15.6% compared to the same quarter last year. As a group, research analysts anticipate that State Street Corporation will post 12.35 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Wednesday, April 1st were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, April 1st. State Street’s payout ratio is presently 34.08%.

State Street Company Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.