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

California State Teachers Retirement System lessened its position in State Street Co. (NYSE:STT - Free Report) by 4.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 466,106 shares of the asset manager's stock after selling 22,487 shares during the period. California State Teachers Retirement System owned approximately 0.16% of State Street worth $45,748,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. boosted its position in State Street by 5.7% in the fourth quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager's stock worth $737,162,000 after purchasing an additional 406,396 shares during the last quarter. Geode Capital Management LLC increased its stake in State Street by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager's stock valued at $704,238,000 after acquiring an additional 24,617 shares during the last quarter. FMR LLC grew its position in State Street by 14.2% during the fourth quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock valued at $685,441,000 after acquiring an additional 870,849 shares during the last quarter. Amundi lifted its stake in shares of State Street by 11.1% in the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager's stock valued at $547,636,000 after acquiring an additional 561,773 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of State Street by 15.7% in the fourth quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager's stock worth $407,166,000 after purchasing an additional 563,790 shares during the last quarter. Institutional investors own 87.44% of the company's stock.

State Street Trading Down 0.8%

State Street stock traded down $0.82 during trading hours on Friday, hitting $96.22. The company had a trading volume of 2,683,856 shares, compared to its average volume of 2,134,549. The firm has a market cap of $27.44 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.11 and a beta of 1.42. The company has a 50-day moving average price of $88.78 and a two-hundred day moving average price of $93.98. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.06. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same period in the previous year, the company posted $1.69 earnings per share. On average, sell-side analysts anticipate that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.16%. State Street's payout ratio is 34.12%.

Insider Buying and Selling

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the sale, the chief accounting officer now owns 7,354 shares of the company's stock, valued at approximately $667,154.88. The trade was a 15.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Truist Financial upgraded State Street from a "hold" rating to a "buy" rating and increased their price objective for the stock from $85.00 to $112.00 in a report on Wednesday. Cfra Research cut State Street from a "moderate buy" rating to a "hold" rating in a report on Thursday. The Goldman Sachs Group set a $98.00 target price on shares of State Street and gave the company a "buy" rating in a report on Thursday, April 17th. Wells Fargo & Company lowered their price objective on State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Finally, Keefe, Bruyette & Woods cut their price target on State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $104.23.

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.