GAMMA Investing LLC Grows Stock Position in State Street Co. (NYSE:STT)

GAMMA Investing LLC raised its holdings in shares of State Street Co. (NYSE:STT) by 28.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,202 shares of the asset manager’s stock after acquiring an additional 709 shares during the quarter. GAMMA Investing LLC’s holdings in State Street were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. TD Asset Management Inc grew its holdings in State Street by 2.3% during the 2nd quarter. TD Asset Management Inc now owns 123,488 shares of the asset manager’s stock valued at $9,138,000 after buying an additional 2,731 shares during the last quarter. Candriam S.C.A. increased its position in State Street by 21.9% during the 2nd quarter. Candriam S.C.A. now owns 48,686 shares of the asset manager’s stock worth $3,603,000 after purchasing an additional 8,761 shares in the last quarter. Savant Capital LLC raised its stake in State Street by 125.0% in the 2nd quarter. Savant Capital LLC now owns 27,527 shares of the asset manager’s stock valued at $2,037,000 after purchasing an additional 15,293 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in State Street by 185.3% in the 2nd quarter. Acadian Asset Management LLC now owns 385,105 shares of the asset manager’s stock valued at $28,491,000 after purchasing an additional 250,107 shares in the last quarter. Finally, Caprock Group LLC boosted its stake in shares of State Street by 292.7% during the 2nd quarter. Caprock Group LLC now owns 17,956 shares of the asset manager’s stock worth $1,329,000 after purchasing an additional 13,383 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on STT. The Goldman Sachs Group upped their price objective on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a report on Friday, December 20th. Morgan Stanley dropped their target price on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday. Barclays raised their price target on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $99.93.

Insider Buying and Selling

In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the sale, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,460 shares of company stock worth $2,499,860. Insiders own 0.31% of the company’s stock.

State Street Price Performance

STT opened at $98.38 on Tuesday. State Street Co. has a twelve month low of $70.20 and a twelve month high of $101.91. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The firm has a market cap of $28.84 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.24 and a beta of 1.43. The company has a fifty day simple moving average of $97.10 and a 200 day simple moving average of $88.22.

State Street (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the company earned $1.93 earnings per share. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. Equities research analysts expect that State Street Co. will post 8.42 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, January 2nd. State Street’s payout ratio is currently 48.03%.

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.