State of Tennessee Department of Treasury Purchases 9,385 Shares of State Street Co. (NYSE:STT)

State of Tennessee Department of Treasury grew its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 7.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 144,400 shares of the asset manager's stock after acquiring an additional 9,385 shares during the period. State of Tennessee Department of Treasury's holdings in State Street were worth $14,173,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Albion Financial Group UT bought a new stake in shares of State Street in the 4th quarter valued at about $25,000. Y.D. More Investments Ltd lifted its position in shares of State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after acquiring an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in shares of State Street during the 4th quarter worth about $42,000. Loomis Sayles & Co. L P boosted its holdings in State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after acquiring an additional 311 shares in the last quarter. Finally, Friedenthal Financial bought a new position in shares of State Street in the 4th quarter worth $49,000. Institutional investors and hedge funds own 87.44% of the company's stock.

State Street Price Performance

NYSE:STT traded up $0.01 during midday trading on Monday, hitting $87.39. The company had a trading volume of 643,970 shares, compared to its average volume of 2,147,108. The stock's fifty day moving average price is $87.81 and its 200-day moving average price is $93.70. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $25.22 billion, a PE ratio of 10.60, a P/E/G ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating the consensus estimate of $1.98 by $0.06. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates 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 prior year, the company earned $1.69 EPS. As a group, research analysts expect that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Tuesday, April 1st. State Street's dividend payout ratio (DPR) is 34.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Barclays dropped their price objective on State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. StockNews.com lowered State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Evercore ISI lowered their price target on shares of State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $103.00 price objective (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $102.15.

Insider Buying and Selling at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the business's stock in a transaction 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 transaction, the executive vice president now directly owns 50,816 shares of the company's stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the firm's stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

About State Street

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.