Allied Investment Advisors LLC Purchases 3,911 Shares of State Street Co. (NYSE:STT)

Allied Investment Advisors LLC raised its position in State Street Co. (NYSE:STT - Free Report) by 3.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,128 shares of the asset manager's stock after purchasing an additional 3,911 shares during the quarter. State Street makes up approximately 2.1% of Allied Investment Advisors LLC's holdings, making the stock its 23rd biggest position. Allied Investment Advisors LLC's holdings in State Street were worth $10,845,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Invesco Ltd. grew its stake in shares of State Street by 5.7% in the 4th quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager's stock valued at $737,162,000 after buying an additional 406,396 shares in the last quarter. Geode Capital Management LLC grew its position in State Street by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager's stock worth $704,238,000 after acquiring an additional 24,617 shares in the last quarter. FMR LLC grew its position in State Street by 14.2% in the fourth quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock worth $685,441,000 after acquiring an additional 870,849 shares in the last quarter. Amundi lifted its stake in shares of State Street by 11.1% in the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager's stock valued at $547,636,000 after purchasing an additional 561,773 shares during the last quarter. Finally, Northern Trust Corp increased its position in State Street by 15.7% during the fourth quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager's stock worth $407,166,000 after buying an additional 563,790 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the sale, the chief accounting officer now directly owns 7,354 shares in the company, valued at approximately $667,154.88. This represents a 15.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on STT shares. Bank of America boosted their price target on State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 2nd. Cfra Research lowered State Street from a "moderate buy" rating to a "hold" rating in a report on Thursday, May 29th. Evercore ISI lowered their price target on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Keefe, Bruyette & Woods dropped their price target on shares of State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Finally, The Goldman Sachs Group set a $98.00 price objective on shares of State Street and gave the stock a "buy" rating in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, State Street has an average rating of "Hold" and a consensus target price of $102.54.

State Street Stock Performance

STT traded up $0.79 on Tuesday, hitting $97.02. 1,117,025 shares of the stock traded hands, compared to its average volume of 2,126,938. The business has a fifty day moving average price of $88.85 and a two-hundred day moving average price of $93.98. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $27.67 billion, a PE ratio of 11.77, a P/E/G ratio of 1.11 and a beta of 1.45. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. The business had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same period in the previous year, the business posted $1.69 earnings per share. On average, research analysts predict that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Tuesday, July 1st. State Street's dividend payout ratio is 34.12%.

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.