Delta Investment Management LLC Has $343,000 Stock Position in State Street Co. (NYSE:STT)

Delta Investment Management LLC trimmed its position in State Street Co. (NYSE:STT) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,423 shares of the asset manager’s stock after selling 299 shares during the quarter. Delta Investment Management LLC’s holdings in State Street were worth $343,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STT. CVA Family Office LLC acquired a new position in shares of State Street during the 4th quarter worth about $27,000. Venturi Wealth Management LLC lifted its holdings in shares of State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of State Street during the 4th quarter valued at about $35,000. Bruce G. Allen Investments LLC bought a new position in shares of State Street during the 4th quarter valued at about $51,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of State Street during the 3rd quarter valued at about $72,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Stock Performance

NYSE STT traded up $0.10 on Friday, reaching $73.39. The stock had a trading volume of 2,749,354 shares, compared to its average volume of 2,811,264. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The firm has a fifty day moving average of $74.16 and a two-hundred day moving average of $72.74. State Street Co. has a 1-year low of $62.78 and a 1-year high of $79.90. The company has a market cap of $22.16 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date was Thursday, March 28th. State Street’s dividend payout ratio is 51.69%.

Insider Buying and Selling at State Street

In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the transaction, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Anthony Bisegna sold 4,258 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the completion of the sale, the executive vice president now directly owns 23,328 shares in the company, valued at approximately $1,717,873.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the sale, the chief financial officer now owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold a total of 18,864 shares of company stock valued at $1,390,597 in the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

STT has been the topic of several recent analyst reports. Evercore ISI lifted their price objective on State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Morgan Stanley boosted their target price on State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Barclays boosted their target price on State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. The Goldman Sachs Group upgraded State Street from a “neutral” rating to a “buy” rating and boosted their target price for the company from $69.00 to $92.00 in a research note on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. upped their price objective on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.04.

State Street Company 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.