Allied Investment Advisors LLC Sells 1,547 Shares of State Street Co. (NYSE:STT)

Allied Investment Advisors LLC cut its stake in State Street Co. (NYSE:STT) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,217 shares of the asset manager’s stock after selling 1,547 shares during the period. State Street accounts for 2.3% of Allied Investment Advisors LLC’s investment portfolio, making the stock its 16th largest holding. Allied Investment Advisors LLC’s holdings in State Street were worth $11,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in STT. Albion Financial Group UT acquired a new position in shares of State Street in the 4th quarter valued at about $25,000. Y.D. More Investments Ltd grew its stake in State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after purchasing an additional 197 shares during the period. Coastline Trust Co bought a new stake in State Street in the third quarter worth approximately $44,000. Friedenthal Financial acquired a new position in State Street in the fourth quarter valued at approximately $49,000. Finally, Hager Investment Management Services LLC bought a new position in shares of State Street during the 4th quarter worth approximately $56,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STT. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research note on Friday, December 20th. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Finally, Morgan Stanley dropped their price target on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $100.73.

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 stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Performance

Shares of STT stock opened at $100.40 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a 50-day moving average of $98.59 and a 200-day moving average of $92.54. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The company has a market cap of $28.96 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period last year, the firm posted $2.04 EPS. The business’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts forecast that State Street Co. will post 9.65 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.76 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.03%. State Street’s payout ratio is 36.89%.

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.