Teachers Retirement System of The State of Kentucky Has $27.18 Million Stock Holdings in State Street Corporation $STT

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of State Street Corporation (NYSE:STT) by 10.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 214,775 shares of the asset manager’s stock after selling 24,000 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.08% of State Street worth $27,182,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Wilkerson Advisory Group LLC bought a new position in State Street during the fourth quarter worth about $29,000. JPL Wealth Management LLC bought a new stake in shares of State Street in the 3rd quarter valued at approximately $29,000. Phillip James Consulting Co. bought a new stake in shares of State Street in the 4th quarter valued at approximately $30,000. Whipplewood Advisors LLC acquired a new position in shares of State Street in the 1st quarter worth approximately $34,000. Finally, Reflection Asset Management acquired a new position in shares of State Street in the 4th quarter worth approximately $35,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street News Roundup

Here are the key news stories impacting State Street this week:

• Positive Sentiment: State Street was upgraded to a Zacks Rank #2 (Buy), reflecting stronger earnings outlooks and improving sentiment heading into earnings. All You Need to Know About State Street (STT) Rating Upgrade to Buy
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on State Street to $195 from $175 and maintained an outperform rating, suggesting meaningful upside from recent levels. State Street (NYSE:STT) Given New $195.00 Price Target at Keefe, Bruyette & Woods
• Positive Sentiment: Analysts are revising expectations higher ahead of Q2 results, with consensus pointing to earnings growth and the possibility of a beat if State Street delivers on estimates. Top Wall Street Forecasters Revamp State Street Expectations Ahead Of Q2 Earnings
• Neutral Sentiment: State Street is expected to report quarterly earnings next week, and investors are focused on whether the company can confirm the improved outlook with actual results. State Street (STT) to Release Earnings on Thursday
• Neutral Sentiment: Coverage noting renewed analyst optimism and upgraded estimates may reinforce the bullish setup, but it does not add new company-specific fundamentals by itself. How Investors May Respond To State Street (STT) Renewed Analyst Optimism And Upgraded Earnings Estimates

Insider Activity at State Street

In other State Street news, EVP Michael L. Richards sold 3,000 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the transaction, the executive vice president directly owned 43,522 shares of the company’s stock, valued at approximately $6,697,600.58. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP W. Bradford Hu sold 9,212 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total transaction of $1,431,084.20. Following the transaction, the executive vice president owned 59,552 shares in the company, valued at $9,251,403.20. The trade was a 13.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 37,876 shares of company stock worth $5,866,583 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

State Street Stock Up 0.1%

NYSE STT opened at $180.47 on Monday. The firm has a market cap of $49.95 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 0.93 and a beta of 1.42. State Street Corporation has a one year low of $101.98 and a one year high of $183.32. The stock’s 50 day simple moving average is $162.52 and its 200 day simple moving average is $142.37. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.57.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.20. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.59 billion. State Street had a return on equity of 14.22% and a net margin of 13.47%.The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.04 EPS. As a group, sell-side analysts forecast that State Street Corporation will post 12.75 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, July 1st. State Street’s payout ratio is currently 34.08%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on STT shares. JPMorgan Chase & Co. raised their target price on State Street from $158.50 to $176.50 and gave the stock a “neutral” rating in a research report on Monday, July 6th. Barclays set a $165.00 price objective on State Street in a research note on Monday, April 20th. Seaport Research Partners reissued a “buy” rating and set a $170.00 price objective on shares of State Street in a report on Monday, April 20th. Keefe, Bruyette & Woods boosted their target price on shares of State Street from $175.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Weiss Ratings raised shares of State Street from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.91.

About State Street

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.