Retirement Systems of Alabama Has $9.12 Million Holdings in State Street Co. (NYSE:STT)

Posted by Defense World Staff on May 2nd, 2023

Retirement Systems of Alabama lowered its holdings in State Street Co. (NYSE:STT – Get Rating) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 117,552 shares of the asset manager’s stock after selling 4,552 shares during the quarter. Retirement Systems of Alabama’s holdings in State Street were worth $9,119,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of STT. Guardian Wealth Advisors LLC acquired a new position in State Street in the third quarter worth $27,000. Accurate Wealth Management LLC acquired a new position in shares of State Street during the fourth quarter worth approximately $29,000. Asset Dedication LLC acquired a new position in shares of State Street during the third quarter worth approximately $37,000. Exos TFP Holdings LLC acquired a new position in shares of State Street during the third quarter worth approximately $38,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of State Street during the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 88.41% of the company’s stock.

State Street Stock Performance

Shares of State Street stock opened at $71.53 on Tuesday. The company has a market capitalization of $24.07 billion, a PE ratio of 10.02, a PEG ratio of 1.33 and a beta of 1.56. State Street Co. has a 12 month low of $58.62 and a 12 month high of $94.74. The company has a current ratio of 0.52, a quick ratio of 0.56 and a debt-to-equity ratio of 0.72. The stock’s fifty day simple moving average is $78.15 and its 200 day simple moving average is $79.39.

State Street (NYSE:STT – Get Rating) last issued its quarterly earnings data on Monday, April 17th. The asset manager reported $1.52 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.12). The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.13 billion. State Street had a return on equity of 11.96% and a net margin of 18.73%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.59 EPS. On average, research analysts predict that State Street Co. will post 7.77 EPS for the current year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 13th. Shareholders of record on Monday, April 3rd were issued a dividend of $0.63 per share. The ex-dividend date was Friday, March 31st. This represents a $2.52 annualized dividend and a yield of 3.52%. State Street’s dividend payout ratio (DPR) is currently 35.29%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on STT shares. Citigroup reduced their target price on shares of State Street from $93.00 to $82.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. StockNews.com started coverage on State Street in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Barclays cut their price target on State Street from $102.00 to $100.00 in a research note on Tuesday, April 18th. Morgan Stanley cut their price target on State Street from $91.00 to $83.00 in a research note on Tuesday, April 18th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of State Street from $70.00 to $68.00 and set a “hold” rating on the stock in a report on Tuesday, April 18th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $83.21.

Insiders Place Their Bets

In other State Street news, EVP John Plansky sold 11,168 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $92.22, for a total transaction of $1,029,912.96. Following the sale, the executive vice president now directly owns 42,455 shares in the company, valued at approximately $3,915,200.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other State Street news, EVP John Plansky sold 11,168 shares of State Street stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $92.22, for a total value of $1,029,912.96. Following the sale, the executive vice president now owns 42,455 shares of the company’s stock, valued at approximately $3,915,200.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David C. Phelan sold 15,000 shares of State Street stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $86.63, for a total transaction of $1,299,450.00. Following the completion of the sale, the executive vice president now owns 72,491 shares in the company, valued at $6,279,895.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,893 shares of company stock worth $2,923,987. Company insiders own 0.25% of the company’s stock.

About State Street

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State Street Corp. engages in the provision of financial services to institutional investors. It operates through the Commercial and Financial, and Commercial Real Estate segments. The company was founded in 1792 and is headquartered in Boston, MA.