American International Group Inc. Has $6.27 Million Position in State Street Co. (NYSE:STT)

American International Group Inc. lowered its stake in State Street Co. (NYSE:STT) by 4.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 80,915 shares of the asset manager’s stock after selling 3,395 shares during the quarter. American International Group Inc.’s holdings in State Street were worth $6,268,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. CVA Family Office LLC acquired a new stake in shares of State Street in the fourth quarter valued at approximately $27,000. Venturi Wealth Management LLC grew its holdings in State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after acquiring an additional 184 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in State Street during the 4th quarter worth $35,000. Quarry LP acquired a new stake in State Street during the 4th quarter worth $39,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in State Street during the 4th quarter worth $51,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Trading Down 0.3 %

STT opened at $72.19 on Friday. The stock has a market capitalization of $21.75 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.24 and a beta of 1.47. State Street Co. has a 12 month low of $62.78 and a 12 month high of $79.90. The firm’s fifty day simple moving average is $74.35 and its 200 day simple moving average is $74.68. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.90.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, beating the consensus estimate of $1.48 by $0.21. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.06 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. As a group, research analysts anticipate that State Street Co. will post 7.94 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Monday, July 1st will be given a dividend of $0.69 per share. The ex-dividend date is Monday, July 1st. This represents a $2.76 annualized dividend and a yield of 3.82%. State Street’s dividend payout ratio (DPR) is presently 51.69%.

Wall Street Analyst Weigh In

A number of research firms have commented on STT. Argus lifted their target price on shares of State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Evercore ISI lifted their target price on shares of State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. UBS Group lifted their target price on shares of State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. JPMorgan Chase & Co. lifted their price target on shares of State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $90.00 price target on shares of State Street in a research report on Wednesday, June 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $84.04.

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.