Illinois Municipal Retirement Fund Sells 33,723 Shares of State Street Co. (NYSE:STT)

Illinois Municipal Retirement Fund trimmed its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 46.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,369 shares of the asset manager's stock after selling 33,723 shares during the period. Illinois Municipal Retirement Fund's holdings in State Street were worth $2,972,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. CVA Family Office LLC bought a new position in shares of State Street during the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC boosted its holdings in shares of State Street by 92.5% in the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager's stock valued at $30,000 after acquiring an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of State Street in the fourth quarter valued at about $35,000. Bruce G. Allen Investments LLC purchased a new position in State Street in the fourth quarter worth approximately $51,000. Finally, Life Planning Partners Inc purchased a new stake in shares of State Street during the 4th quarter worth $79,000. 87.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Anthony Bisegna sold 2,606 shares of the company's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the completion of the sale, the executive vice president now owns 17,737 shares in the company, valued at $1,294,801. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Anthony Bisegna sold 2,606 shares of the business's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the sale, the executive vice president now owns 17,737 shares of the company's stock, valued at $1,294,801. The disclosure for this sale can be found here. Insiders have sold a total of 18,864 shares of company stock valued at $1,390,597 in the last 90 days. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

STT has been the topic of a number of research reports. UBS Group increased their price objective on State Street from $80.00 to $82.00 and gave the stock a "neutral" rating in a report on Friday, April 12th. The Goldman Sachs Group upgraded State Street from a "neutral" rating to a "buy" rating and boosted their price target for the company from $69.00 to $92.00 in a report on Wednesday, January 3rd. Barclays lifted their price target on State Street from $87.00 to $102.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 2nd. Evercore ISI upped their price target on shares of State Street from $85.00 to $88.00 and gave the stock an "outperform" rating in a research report on Thursday, April 4th. Finally, Argus boosted their price objective on shares of State Street from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, State Street currently has an average rating of "Hold" and an average target price of $84.04.

State Street Trading Down 1.4 %

Shares of NYSE:STT traded down $1.01 on Thursday, hitting $73.28. The company had a trading volume of 5,837,130 shares, compared to its average volume of 2,409,014. The firm's 50-day simple moving average is $74.14 and its two-hundred day simple moving average is $72.68. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $22.13 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 1.32 and a beta of 1.52. State Street Co. has a 1 year low of $62.78 and a 1 year high of $79.90.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend was Thursday, March 28th. State Street's dividend payout ratio (DPR) is 51.69%.

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.