PGGM Investments Purchases Shares of 2,160 State Street Co. (NYSE:STT)

PGGM Investments acquired a new position in shares of State Street Co. (NYSE:STT) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,160 shares of the asset manager’s stock, valued at approximately $167,000.

Several other hedge funds have also modified their holdings of STT. CVA Family Office LLC purchased a new stake in shares of State Street during the 4th quarter valued at $27,000. Venturi Wealth Management LLC lifted its stake 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 purchasing an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of State Street during the 4th quarter worth about $35,000. Bruce G. Allen Investments LLC acquired a new position in State Street during the fourth quarter valued at approximately $51,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in State Street during the third quarter worth approximately $72,000. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Price Performance

Shares of STT opened at $73.99 on Tuesday. 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 cap of $22.34 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.30 and a beta of 1.52. State Street Co. has a 52 week low of $62.78 and a 52 week high of $79.90. The stock has a 50 day moving average of $74.19 and a 200-day moving average of $72.92.

State Street Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.73%. State Street’s dividend payout ratio (DPR) is 51.69%.

Analyst Ratings Changes

STT has been the subject of a number of research reports. Royal Bank of Canada upped their price target on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Evercore ISI boosted their price target on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. increased their price objective on shares of State Street from $79.50 to $80.50 in a research report on Friday, April 12th. 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 research note on Monday, April 15th. Finally, Bank of America reiterated an “underperform” rating and issued a $81.00 price objective on shares of State Street in a report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $84.04.

Insider Transactions at State Street

In related news, EVP Anthony Bisegna sold 4,258 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $73.64, for a total transaction of $313,559.12. Following the completion of the sale, the executive vice president now owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Anthony Bisegna sold 4,258 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the completion of the transaction, the executive vice president now owns 23,328 shares in the company, valued at approximately $1,717,873.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the transaction, the chief financial officer now owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,864 shares of company stock worth $1,390,597. 0.31% of the stock is currently owned by insiders.

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.