California Public Employees Retirement System Has $46.02 Million Holdings in State Street Co. (NYSE:STT)

California Public Employees Retirement System cut its stake in shares of State Street Co. (NYSE:STT - Free Report) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 594,101 shares of the asset manager's stock after selling 46,216 shares during the period. California Public Employees Retirement System owned approximately 0.19% of State Street worth $46,019,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of STT. CVA Family Office LLC purchased a new position in shares of State Street during the fourth quarter valued at $27,000. Venturi Wealth Management LLC grew its stake in State Street by 92.5% in the fourth quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager's stock valued at $30,000 after purchasing an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in State Street in the fourth quarter valued at about $35,000. Bruce G. Allen Investments LLC bought a new stake in shares of State Street during the 4th quarter worth about $51,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of State Street during the 3rd quarter worth about $72,000. Hedge funds and other institutional investors own 87.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on STT. Barclays upped their price target on State Street from $87.00 to $102.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 2nd. The Goldman Sachs Group upgraded State Street from a "neutral" rating to a "buy" rating and upped their price target for the stock from $69.00 to $92.00 in a research note on Wednesday, January 3rd. Argus upped their price target on State Street from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Monday, April 15th. Evercore ISI boosted their price objective on State Street from $85.00 to $88.00 and gave the stock an "outperform" rating in a research report on Thursday, April 4th. Finally, Keefe, Bruyette & Woods cut their price objective on State Street from $89.00 to $86.00 and set a "market perform" rating for the company in a research report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $84.04.

Insider Transactions at State Street

In other news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the transaction, the executive vice president now directly owns 17,737 shares of the company's stock, valued at approximately $1,294,801. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the sale, the chief financial officer now directly owns 149,063 shares in the company, valued at approximately $11,015,755.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the sale, the executive vice president now owns 17,737 shares in the company, valued at $1,294,801. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,864 shares of company stock valued at $1,390,597. Corporate insiders own 0.31% of the company's stock.

State Street Stock Performance

State Street stock traded up $0.10 during trading hours on Friday, hitting $73.39. The stock had a trading volume of 2,749,354 shares, compared to its average volume of 2,811,264. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90. 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 company has a 50-day moving average of $74.16 and a two-hundred day moving average of $72.79. The company has a market cap of $22.16 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were issued a $0.69 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.76%. State Street's payout ratio is presently 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.