Tidal Investments LLC Has $776,000 Stock Position in State Street Co. (NYSE:STT)

Tidal Investments LLC reduced its position in State Street Co. (NYSE:STT) by 5.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,844 shares of the asset manager’s stock after selling 549 shares during the period. Tidal Investments LLC’s holdings in State Street were worth $776,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of State Street in the 2nd quarter valued at approximately $27,000. Coastline Trust Co bought a new stake in State Street in the third quarter worth approximately $44,000. Capital Performance Advisors LLP acquired a new position in shares of State Street during the 3rd quarter worth $54,000. Family Firm Inc. bought a new position in shares of State Street during the 2nd quarter valued at $61,000. Finally, Tobam acquired a new stake in shares of State Street in the 3rd quarter valued at $77,000. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Price Performance

NYSE:STT opened at $98.20 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $28.79 billion, a P/E ratio of 15.51, a PEG ratio of 1.24 and a beta of 1.44. The company has a fifty day moving average price of $95.56 and a 200 day moving average price of $86.05. State Street Co. has a one year low of $70.20 and a one year high of $101.91.

State Street (NYSE:STT) last released its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the company earned $1.93 earnings per share. The firm’s revenue was up 21.1% on a year-over-year basis. Analysts anticipate that State Street Co. will post 8.42 earnings per share for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Thursday, January 2nd. State Street’s dividend payout ratio is presently 48.03%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Evercore ISI increased their target price on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company increased their price objective on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, November 15th. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a report on Friday. Deutsche Bank Aktiengesellschaft upped their target price on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Barclays boosted their price objective on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, State Street has an average rating of “Hold” and an average target price of $98.36.

Insider Activity at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company’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 sale, the executive vice president now directly owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the sale, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is owned by corporate insiders.

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.