Gotham Asset Management LLC Purchases 3,817 Shares of State Street Co. (NYSE:STT)

Gotham Asset Management LLC raised its position in State Street Co. (NYSE:STT - Free Report) by 22.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 20,906 shares of the asset manager's stock after acquiring an additional 3,817 shares during the period. Gotham Asset Management LLC's holdings in State Street were worth $2,052,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of STT. Adero Partners LLC boosted its stake in State Street by 3.6% during the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock valued at $285,000 after purchasing an additional 100 shares during the last quarter. Jacobi Capital Management LLC boosted its position in shares of State Street by 1.0% during the fourth quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock valued at $1,201,000 after buying an additional 121 shares during the last quarter. Moors & Cabot Inc. grew its holdings in State Street by 0.7% during the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock worth $1,799,000 after buying an additional 131 shares in the last quarter. Apollon Wealth Management LLC raised its position in State Street by 1.4% in the 4th quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager's stock valued at $986,000 after buying an additional 138 shares during the last quarter. Finally, Huntington National Bank lifted its stake in State Street by 1.3% during the 4th quarter. Huntington National Bank now owns 11,671 shares of the asset manager's stock valued at $1,146,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 87.44% of the company's stock.

Insider Activity at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. The trade was a 6.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director now directly owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This represents a 9.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,820 shares of company stock valued at $1,567,972. Company insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on STT shares. The Goldman Sachs Group set a $98.00 target price on shares of State Street and gave the stock a "buy" rating in a research note on Thursday, April 17th. StockNews.com downgraded State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Barclays cut their price objective on State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $103.00 target price (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company cut their price target on shares of State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $102.15.

State Street Stock Performance

Shares of STT traded down $0.04 during trading hours on Monday, hitting $98.25. The company's stock had a trading volume of 1,082,952 shares, compared to its average volume of 2,151,688. The company has a market cap of $28.02 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.11 and a beta of 1.42. 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 business has a 50 day simple moving average of $87.22 and a two-hundred day simple moving average of $93.82. 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 posted its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the prior year, the business posted $1.69 earnings per share. On average, equities analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.09%. The ex-dividend date is Tuesday, July 1st. State Street's dividend payout ratio is presently 34.12%.

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.