New York State Common Retirement Fund Lowers Stock Position in State Street Co. (NYSE:STT)

New York State Common Retirement Fund lowered its position in shares of State Street Co. (NYSE:STT) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 482,133 shares of the asset manager’s stock after selling 34,819 shares during the quarter. New York State Common Retirement Fund’s holdings in State Street were worth $37,346,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Foster & Motley Inc. purchased a new position in State Street during the fourth quarter valued at $242,000. Duality Advisers LP purchased a new position in State Street during the fourth quarter valued at $284,000. Greenwich Wealth Management LLC lifted its position in State Street by 7.1% during the fourth quarter. Greenwich Wealth Management LLC now owns 5,391 shares of the asset manager’s stock valued at $418,000 after buying an additional 358 shares during the period. Handelsbanken Fonder AB lifted its position in State Street by 9.8% during the fourth quarter. Handelsbanken Fonder AB now owns 125,464 shares of the asset manager’s stock valued at $9,718,000 after buying an additional 11,152 shares during the period. Finally, CWM LLC lifted its position in State Street by 6.1% during the fourth quarter. CWM LLC now owns 6,270 shares of the asset manager’s stock valued at $486,000 after buying an additional 358 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

STT has been the subject of several recent research reports. The Goldman Sachs Group raised State Street from a “neutral” rating to a “buy” rating and raised their price objective for the company from $69.00 to $92.00 in a research report on Wednesday, January 3rd. Royal Bank of Canada lifted their price objective on State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Keefe, Bruyette & Woods reduced their price objective on State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a report on Monday, January 22nd. UBS Group lifted their price objective on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, Argus boosted their price target on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $84.04.

Insider Buying and Selling

In related news, EVP Anthony Bisegna sold 4,258 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $73.64, for a total value of $313,559.12. Following the transaction, the executive vice president now directly owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the transaction, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Anthony Bisegna sold 4,258 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $73.64, for a total value of $313,559.12. Following the completion of the transaction, the executive vice president now directly owns 23,328 shares in the company, valued at $1,717,873.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,864 shares of company stock valued at $1,390,597. Corporate insiders own 0.31% of the company’s stock.

State Street Trading Down 0.1 %

Shares of NYSE:STT opened at $74.29 on Thursday. The stock has a 50 day moving average of $74.14 and a 200 day moving average of $72.68. The company has a market cap of $22.43 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 1.32 and a beta of 1.52. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90. State Street Co. has a 12-month low of $62.78 and a 12-month high of $79.90.

State Street Dividend Announcement

The firm also recently declared 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 3.72%. State Street’s dividend payout ratio is presently 51.69%.

State Street 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.