New York State Teachers Retirement System cut its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 282,992 shares of the asset manager's stock after selling 9,929 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of State Street worth $27,776,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of STT. Hotchkis & Wiley Capital Management LLC raised its holdings in State Street by 30.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager's stock valued at $514,136,000 after acquiring an additional 1,354,560 shares during the period. FMR LLC raised its holdings in State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager's stock valued at $540,796,000 after acquiring an additional 833,679 shares during the period. Wellington Management Group LLP raised its holdings 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 valued at $45,889,000 after acquiring an additional 462,201 shares during the period. National Bank of Canada FI raised its holdings in State Street by 99.4% during 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 acquiring an additional 442,725 shares during the period. Finally, Franklin Resources Inc. raised its holdings in State Street by 13.8% during the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager's stock valued at $306,116,000 after acquiring an additional 408,792 shares during the period. 87.44% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
STT has been the topic of several research reports. Wells Fargo & Company lifted their target price on State Street from $108.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, January 2nd. Keefe, Bruyette & Woods raised State Street from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. 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. JPMorgan Chase & Co. raised State Street from an "underweight" rating to a "neutral" rating and set a $95.00 target price on the stock in a report on Friday, December 20th. Finally, StockNews.com cut State Street from a "buy" rating to a "hold" rating in a report on Friday, February 14th. One investment 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.com, the stock presently has a consensus rating of "Hold" and an average price target of $100.73.
Read Our Latest Analysis on STT
State Street Trading Down 0.6 %
Shares of NYSE STT traded down $0.62 during trading hours on Wednesday, reaching $99.82. The stock had a trading volume of 1,992,601 shares, compared to its average volume of 1,977,123. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a market cap of $28.80 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 1.11 and a beta of 1.43. The business's fifty day moving average price is $98.59 and its two-hundred day moving average price is $92.54. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00.
State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts' consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. State Street's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.04 earnings per share. Analysts expect that State Street Co. will post 9.65 EPS for the current fiscal year.
State Street Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Thursday, January 2nd. State Street's dividend payout ratio (DPR) is 36.89%.
Insider Buying and Selling
In other 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 directly owns 111,042 shares of the company's stock, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.31% of the stock is currently owned by insiders.
About State Street
(
Free Report)
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.
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