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

California Public Employees Retirement System cut its position in shares of State Street Co. (NYSE:STT) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 594,101 shares of the asset manager’s stock after selling 46,216 shares during the quarter. California Public Employees Retirement System owned 0.19% of State Street worth $46,019,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC increased its position in shares of State Street by 17.2% in the third quarter. CWM LLC now owns 5,912 shares of the asset manager’s stock valued at $396,000 after acquiring an additional 866 shares during the last quarter. Caprock Group LLC raised its stake in shares of State Street by 7.4% during the 3rd quarter. Caprock Group LLC now owns 4,317 shares of the asset manager’s stock worth $292,000 after purchasing an additional 298 shares in the last quarter. Hennessy Advisors Inc. grew its stake in shares of State Street by 33.3% in the third quarter. Hennessy Advisors Inc. now owns 4,000 shares of the asset manager’s stock valued at $268,000 after buying an additional 1,000 shares in the last quarter. UMB Bank n.a. raised its position in State Street by 14.5% during the third quarter. UMB Bank n.a. now owns 2,926 shares of the asset manager’s stock worth $196,000 after acquiring an additional 371 shares in the last quarter. Finally, Czech National Bank lifted its stake in State Street by 40.7% in the third quarter. Czech National Bank now owns 55,692 shares of the asset manager’s stock valued at $3,729,000 after acquiring an additional 16,122 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction 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 directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through the SEC website. Also, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the sale, the executive vice president now owns 17,737 shares in the company, valued at approximately $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 ninety days. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Performance

NYSE:STT opened at $73.39 on Friday. 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’s fifty day simple moving average is $74.16 and its 200 day simple moving average is $72.74. The stock has a market cap of $22.16 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52. State Street Co. has a twelve month low of $62.78 and a twelve month high of $79.90.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date was Thursday, March 28th. State Street’s payout ratio is 51.69%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. The Goldman Sachs Group raised State Street from a “neutral” rating to a “buy” rating and raised their price objective for the company from $69.00 to $92.00 in a research report on Wednesday, January 3rd. Barclays lifted their target price on State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. UBS Group increased their price target on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of 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 investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $84.04.

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.