Teacher Retirement System of Texas Grows Holdings in State Street Co. (NYSE:STT)

Teacher Retirement System of Texas lifted its position in shares of State Street Co. (NYSE:STT - Free Report) by 102.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 428,383 shares of the asset manager's stock after purchasing an additional 216,583 shares during the period. Teacher Retirement System of Texas owned about 0.15% of State Street worth $42,046,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of STT. Adero Partners LLC boosted its position in shares of State Street by 3.6% during the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock worth $285,000 after acquiring an additional 100 shares in the last quarter. Peapack Gladstone Financial Corp lifted its stake in State Street by 2.0% during the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager's stock worth $467,000 after purchasing an additional 103 shares during the last quarter. Jacobi Capital Management LLC boosted its holdings in State Street by 1.0% in the fourth quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock valued at $1,201,000 after purchasing an additional 121 shares in the last quarter. Moors & Cabot Inc. increased its stake in State Street by 0.7% in the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock valued at $1,799,000 after purchasing an additional 131 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its holdings in State Street by 1.4% during the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager's stock worth $986,000 after purchasing an additional 138 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

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State Street Price Performance

Shares of NYSE STT traded down $0.39 during trading on Tuesday, hitting $92.47. 1,827,932 shares of the company were exchanged, compared to its average volume of 2,060,706. 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 1 year low of $70.20 and a 1 year high of $103.00. The company has a market cap of $26.67 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.11 and a beta of 1.44. The firm's fifty day moving average price is $95.90 and its 200 day moving average price is $94.33.

State Street (NYSE:STT - Get Free Report) last issued its 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. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the business posted $2.04 earnings per share. The firm's revenue for the quarter was up 12.1% compared to the same quarter last year. On average, sell-side analysts expect that State Street Co. will post 9.68 earnings per share 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. Investors of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street's payout ratio is currently 36.89%.

Analyst Ratings Changes

A number of research analysts recently commented on STT shares. Truist Financial dropped their target price on shares of State Street from $106.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Morgan Stanley cut their target price on State Street from $142.00 to $139.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. Wells Fargo & Company upped their target price on State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, January 2nd. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. upgraded State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price objective for the company in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, State Street has a consensus rating of "Hold" and an average target price of $101.87.

Insider Activity at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares of the company's stock, valued at $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

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.