State Street Co. (NYSE:STT) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in State Street Co. (NYSE:STT) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 594,101 shares of the asset manager’s stock after selling 46,216 shares during the quarter. California Public Employees Retirement System’s holdings in State Street were worth $46,019,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. HBK Sorce Advisory LLC boosted its stake in shares of State Street by 0.8% during the third quarter. HBK Sorce Advisory LLC now owns 20,131 shares of the asset manager’s stock worth $1,348,000 after buying an additional 151 shares during the period. Cardinal Capital Management grew its holdings in State Street by 0.4% during the fourth quarter. Cardinal Capital Management now owns 48,917 shares of the asset manager’s stock worth $3,822,000 after acquiring an additional 174 shares during the period. Mathes Company Inc. lifted its holdings in State Street by 0.5% in the third quarter. Mathes Company Inc. now owns 32,550 shares of the asset manager’s stock valued at $2,180,000 after acquiring an additional 175 shares during the period. Lido Advisors LLC boosted its position in shares of State Street by 1.6% during the 3rd quarter. Lido Advisors LLC now owns 11,298 shares of the asset manager’s stock worth $756,000 after purchasing an additional 178 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after purchasing an additional 184 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Up 0.1 %

Shares of NYSE:STT opened at $73.39 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90. The firm has a market cap of $22.16 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.30 and a beta of 1.52. The stock’s 50-day moving average price is $74.16 and its two-hundred day moving average price is $72.74. State Street Co. has a 12-month low of $62.78 and a 12-month high of $79.90.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were issued a $0.69 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a yield of 3.76%. State Street’s payout ratio is 51.69%.

Insider Buying and Selling

In related news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Eric W. Aboaf sold 12,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the sale, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the transaction, the executive vice president now directly owns 17,737 shares in the company, valued at $1,294,801. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,864 shares of company stock valued at $1,390,597. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on STT. The Goldman Sachs Group upgraded shares of State Street from a “neutral” rating to a “buy” rating and upped their target price for the stock from $69.00 to $92.00 in a research report on Wednesday, January 3rd. UBS Group increased their price objective on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods cut their target price on shares of State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. Evercore ISI increased their price target on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. upped their target price on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $84.04.

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.