New York State Common Retirement Fund Decreases Holdings in State Street Co. (NYSE:STT)

New York State Common Retirement Fund reduced its position in State Street Co. (NYSE:STT - Free Report) by 13.7% during the 4th quarter, according to its most recent filing with the SEC. The firm 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 filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC lifted its holdings in State Street by 30.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager's stock valued at $514,136,000 after purchasing an additional 1,354,560 shares in the last quarter. FMR LLC grew its position in shares of State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager's stock worth $540,796,000 after buying an additional 833,679 shares in the last quarter. Wellington Management Group LLP lifted its stake in State Street by 818.1% during the third quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager's stock worth $45,889,000 after purchasing an additional 462,201 shares during the last quarter. National Bank of Canada FI lifted its stake in State Street by 99.4% in the third quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager's stock valued at $78,574,000 after buying an additional 442,725 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in State Street by 13.8% in the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager's stock valued at $306,116,000 after buying an additional 408,792 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Price Performance

NYSE STT traded down $0.91 during trading hours on Friday, reaching $98.74. 1,808,387 shares of the stock traded hands, compared to its average volume of 1,973,938. The stock has a 50 day simple moving average of $98.58 and a two-hundred day simple moving average of $92.64. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. 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 company has a market cap of $28.48 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $3.27 billion. During the same quarter in the previous year, the business earned $2.04 EPS. State Street's revenue was up 12.1% compared to the same quarter last year. On average, analysts predict that State Street Co. will post 9.65 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.08%. State Street's payout ratio is 36.89%.

Insider Buying and Selling at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares of the company's stock, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on Monday, November 25th. The shares were 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 approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,020 shares of company stock valued at $2,674,661. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

STT has been the topic of a number of research analyst reports. Wolfe Research raised State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Wells Fargo & Company lifted their price target 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 lowered State Street from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Barclays lifted their price target on State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Finally, Morgan Stanley lowered their price target on State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a research report on Friday, January 3rd. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $100.73.

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.