Public Employees Retirement System of Ohio Sells 10,488 Shares of State Street Co. (NYSE:STT)

Public Employees Retirement System of Ohio trimmed its stake in State Street Co. (NYSE:STT - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,383 shares of the asset manager's stock after selling 10,488 shares during the quarter. Public Employees Retirement System of Ohio's holdings in State Street were worth $10,540,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of STT. Norges Bank acquired a new position in shares of State Street during the 4th quarter valued at about $161,021,000. Price T Rowe Associates Inc. MD increased its position in State Street by 236.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,309,130 shares of the asset manager's stock worth $226,642,000 after purchasing an additional 1,622,408 shares in the last quarter. FMR LLC increased its position in State Street by 14.2% during the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock worth $685,441,000 after purchasing an additional 870,849 shares in the last quarter. Azora Capital LP acquired a new stake in shares of State Street in the fourth quarter worth $80,294,000. Finally, Northern Trust Corp increased its holdings in State Street by 15.7% in the 4th quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager's stock valued at $407,166,000 after purchasing an additional 563,790 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Morgan Stanley lowered their target price on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company decreased their price target on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Citigroup reduced their price objective on State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Keefe, Bruyette & Woods reduced their target price on shares of State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Finally, The Goldman Sachs Group set a $98.00 price target on State Street and gave the stock a "buy" rating in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $104.23.

State Street Trading Down 0.6%

Shares of NYSE STT traded down $0.58 during mid-day trading on Wednesday, hitting $96.85. 1,685,671 shares of the company traded hands, compared to its average volume of 2,139,197. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The stock has a market capitalization of $27.62 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.11 and a beta of 1.42. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The business has a 50 day moving average of $88.50 and a two-hundred day moving average of $93.95.

State Street (NYSE:STT - Get Free Report) last released its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same quarter in the prior year, the company earned $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 fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Tuesday, July 1st. State Street's dividend payout ratio (DPR) is 34.12%.

Insider Transactions at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the firm's 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 directly owns 7,354 shares of the company's stock, valued at $667,154.88. This trade represents a 15.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by insiders.

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.