State Street Co. (NYSE:STT) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in shares of State Street Co. (NYSE:STT) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 282,992 shares of the asset manager’s stock after selling 9,929 shares during the period. New York State Teachers Retirement System owned 0.10% of State Street worth $27,776,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of STT. Adero Partners LLC raised its stake in State Street by 3.6% during the fourth quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock worth $285,000 after purchasing an additional 100 shares during the period. Peapack Gladstone Financial Corp raised its position in shares of State Street by 2.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock valued at $467,000 after buying an additional 103 shares during the period. Apollon Wealth Management LLC lifted its stake in shares of State Street by 1.4% in the 4th quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock valued at $986,000 after purchasing an additional 138 shares during the last quarter. Empirical Finance LLC boosted its stake in State Street by 1.4% during the third quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock worth $997,000 after buying an additional 158 shares during the period. Finally, ST Germain D J Co. Inc. boosted its position in shares of State Street by 6.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 2,869 shares of the asset manager’s stock worth $282,000 after purchasing an additional 180 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Up 0.1 %

STT opened at $99.16 on Friday. The business has a 50 day moving average price of $98.59 and a two-hundred day moving average price of $92.20. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The company has a market cap of $29.07 billion, a PE ratio of 12.03, a P/E/G ratio of 1.12 and a beta of 1.43. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the company earned $2.04 earnings per share. As a group, research analysts anticipate that State Street Co. will post 9.6 EPS for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s payout ratio is 36.89%.

Insider Transactions at State Street

In related 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 transaction of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares of the company’s stock, 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 link. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

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

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.