Kentucky Trust Co Makes New Investment in State Street Co. (NYSE:STT)

Kentucky Trust Co acquired a new stake in State Street Co. (NYSE:STT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,270 shares of the asset manager’s stock, valued at approximately $125,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Adero Partners LLC raised its holdings in shares of State Street by 3.6% in 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 in the last quarter. Peapack Gladstone Financial Corp raised its holdings in shares of State Street by 2.0% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock valued at $467,000 after purchasing an additional 103 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 138 shares in the last quarter. Empirical Finance LLC raised its holdings in shares of State Street by 1.4% in the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock valued at $997,000 after purchasing an additional 158 shares in the last quarter. Finally, ST Germain D J Co. Inc. raised its holdings in shares of State Street by 6.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 2,869 shares of the asset manager’s stock valued at $282,000 after purchasing an additional 180 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Trading Down 0.4 %

Shares of State Street stock opened at $98.23 on Thursday. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $28.80 billion, a P/E ratio of 11.92, a PEG ratio of 1.12 and a beta of 1.43. The company’s fifty day moving average is $98.55 and its two-hundred day moving average is $92.01.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter last year, the business earned $2.04 EPS. The business’s revenue was up 12.1% on a year-over-year basis. Analysts forecast that State Street Co. will post 9.6 earnings per share for the current year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Insider Transactions at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

STT has been the topic of a number of analyst reports. Evercore ISI raised their price objective on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and increased their target price for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Barclays increased their target price on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company increased their target price on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. Finally, Morgan Stanley dropped their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $100.73.

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.