New York State Common Retirement Fund Sells 34,819 Shares of State Street Co. (NYSE:STT)

New York State Common Retirement Fund decreased its position in shares of State Street Co. (NYSE:STT) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 482,133 shares of the asset manager’s stock after selling 34,819 shares during the quarter. New York State Common Retirement Fund owned about 0.16% of State Street worth $37,346,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Foster & Motley Inc. bought a new position in State Street during the 4th quarter worth approximately $242,000. Duality Advisers LP bought a new position in State Street during the 4th quarter worth approximately $284,000. Greenwich Wealth Management LLC raised its holdings in State Street by 7.1% during the 4th quarter. Greenwich Wealth Management LLC now owns 5,391 shares of the asset manager’s stock worth $418,000 after purchasing an additional 358 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in State Street by 9.8% during the 4th quarter. Handelsbanken Fonder AB now owns 125,464 shares of the asset manager’s stock worth $9,718,000 after purchasing an additional 11,152 shares during the last quarter. Finally, CWM LLC raised its holdings in State Street by 6.1% during the 4th quarter. CWM LLC now owns 6,270 shares of the asset manager’s stock worth $486,000 after purchasing an additional 358 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

NYSE STT opened at $74.29 on Thursday. The company has a fifty day simple moving average of $74.14 and a 200 day simple moving average of $72.68. State Street Co. has a 12-month low of $62.78 and a 12-month high of $79.90. 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 company has a market cap of $22.43 billion, a P/E ratio of 13.91, a PEG ratio of 1.32 and a beta of 1.52.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date was Thursday, March 28th. State Street’s dividend payout ratio is 51.69%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on STT. JPMorgan Chase & Co. raised their price target on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th. The Goldman Sachs Group upgraded shares of State Street from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $69.00 to $92.00 in a research note on Wednesday, January 3rd. Evercore ISI lifted their price objective on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada lifted their price objective on shares of State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Finally, UBS Group lifted 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, State Street presently has a consensus rating of “Hold” and a consensus target price of $84.04.

Insiders Place Their Bets

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other State Street news, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the transaction, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold 18,864 shares of company stock valued at $1,390,597 in the last three months. 0.31% of the stock is currently owned by 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.