Oregon Public Employees Retirement Fund Cuts Stake in State Street Co. (NYSE:STT)

Oregon Public Employees Retirement Fund lowered its position in shares of State Street Co. (NYSE:STT) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,099 shares of the asset manager’s stock after selling 470 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in State Street were worth $2,463,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in State Street by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock worth $632,111,000 after buying an additional 41,442 shares during the last quarter. FMR LLC raised its position in State Street by 15.8% during the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after buying an additional 833,679 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in State Street by 30.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after buying an additional 1,354,560 shares during the last quarter. Franklin Resources Inc. raised its position in State Street by 13.8% during the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock worth $306,116,000 after buying an additional 408,792 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in State Street by 1.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,421,569 shares of the asset manager’s stock worth $214,236,000 after buying an additional 23,252 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

STT has been the topic of a number of recent analyst reports. Barclays upped their price target on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company upped their price target on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. Morgan Stanley lowered their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, State Street currently has an average rating of “Hold” and a consensus price target of $100.73.

Insider Buying and Selling at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the transaction, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

State Street Price Performance

Shares of NYSE STT opened at $97.57 on Friday. The stock has a market cap of $28.15 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 1.11 and a beta of 1.43. 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 company’s 50-day moving average price is $98.57 and its 200 day moving average price is $93.35. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.04 EPS. As a group, research analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.12%. State Street’s dividend payout ratio (DPR) is 36.89%.

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.