South Dakota Investment Council Sells 25,100 Shares of State Street Co. (NYSE:STT)

South Dakota Investment Council reduced its stake in shares of State Street Co. (NYSE:STT - Free Report) by 10.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 212,176 shares of the asset manager's stock after selling 25,100 shares during the period. South Dakota Investment Council owned about 0.07% of State Street worth $16,435,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in State Street in the 3rd quarter worth $743,000. CWM LLC raised its holdings in State Street by 17.2% in the third quarter. CWM LLC now owns 5,912 shares of the asset manager's stock worth $396,000 after buying an additional 866 shares during the last quarter. HB Wealth Management LLC lifted its position in State Street by 5.6% in the 3rd quarter. HB Wealth Management LLC now owns 3,390 shares of the asset manager's stock valued at $227,000 after acquiring an additional 181 shares in the last quarter. Caprock Group LLC boosted its stake in State Street by 7.4% during the 3rd quarter. Caprock Group LLC now owns 4,317 shares of the asset manager's stock valued at $292,000 after purchasing an additional 298 shares during the last quarter. Finally, NovaPoint Capital LLC raised its stake in shares of State Street by 2.5% in the third quarter. NovaPoint Capital LLC now owns 41,368 shares of the asset manager's stock worth $2,770,000 after purchasing an additional 1,016 shares during the last quarter. Institutional investors own 87.44% of the company's stock.

Insider Activity

In related news, CFO Eric W. Aboaf sold 12,000 shares of the company's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the transaction, the chief financial officer now owns 149,063 shares in the company, valued at $11,015,755.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Eric W. Aboaf sold 12,000 shares of the business's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the sale, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Anthony Bisegna sold 4,258 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were 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 $1,717,873.92. The disclosure for this sale can be found here. Insiders have sold a total of 18,864 shares of company stock worth $1,390,597 over the last quarter. Insiders own 0.31% of the company's stock.

State Street Price Performance

State Street stock traded down $0.12 during mid-day trading on Tuesday, hitting $74.40. The stock had a trading volume of 2,423,966 shares, compared to its average volume of 2,286,060. State Street Co. has a one year low of $62.78 and a one year 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 firm has a market capitalization of $22.46 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.30 and a beta of 1.52. The firm's 50 day moving average is $74.08 and its 200 day moving average is $72.67.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Friday, January 19th. The asset manager reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.21. State Street had a return on equity of 12.03% and a net margin of 9.62%. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the company posted $2.07 earnings per share. The business's quarterly revenue was down 3.5% compared to the same quarter last year. On average, sell-side analysts forecast that State Street Co. will post 7.93 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business 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 3.71%. The ex-dividend date was Thursday, March 28th. State Street's dividend payout ratio (DPR) is currently 51.69%.

Analysts Set New Price Targets

Several research firms recently commented on STT. Barclays lifted their price objective on State Street from $87.00 to $102.00 and gave the stock an "overweight" rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods lowered their price objective on shares of State Street from $89.00 to $86.00 and set a "market perform" rating on the stock in a research report on Monday, January 22nd. Bank of America reaffirmed an "underperform" rating and issued a $81.00 target price on shares of State Street in a research report on Thursday, January 4th. Morgan Stanley boosted their target price on shares of State Street from $89.00 to $90.00 and gave the company an "equal weight" rating in a research note on Monday, April 15th. Finally, Evercore ISI raised their price target on State Street from $85.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, April 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $84.04.

State Street Company 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.

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