State Street Co. (NYSE:STT) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in shares of State Street Co. (NYSE:STT) by 13.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 346,956 shares of the asset manager’s stock after selling 54,908 shares during the quarter. New York State Common Retirement Fund owned about 0.12% of State Street worth $34,054,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Albion Financial Group UT acquired a new stake in shares of State Street during the fourth quarter worth $25,000. Y.D. More Investments Ltd boosted its holdings in shares of 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 last quarter. Coastline Trust Co acquired a new stake in shares of State Street during the third quarter worth $44,000. Friedenthal Financial acquired a new stake in shares of State Street during the fourth quarter worth $49,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of State Street during the fourth quarter worth $56,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Transactions at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,020 shares of company stock valued at $2,674,661. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

STT has been the topic of several analyst reports. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Morgan Stanley reduced their target price on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Wells Fargo & Company lifted their target price on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Barclays lifted their target price on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $100.73.

State Street Trading Down 0.2 %

NYSE:STT opened at $99.63 on Friday. The business’s 50-day moving average is $98.58 and its two-hundred day moving average is $92.64. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The firm has a market capitalization of $28.74 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 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 company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period last year, the company posted $2.04 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Research analysts predict that State Street Co. will post 9.65 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st 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 3.05%. State Street’s payout ratio is 36.89%.

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.