State Street Corporation $STT Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in shares of State Street Corporation (NYSE:STT) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,970 shares of the asset manager’s stock after selling 3,156 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in State Street were worth $8,382,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of STT. Regents of The University of California purchased a new stake in shares of State Street during the third quarter worth approximately $324,576,000. Norges Bank purchased a new stake in shares of State Street during the fourth quarter worth approximately $303,483,000. Two Sigma Investments LP raised its stake in shares of State Street by 261.0% during the third quarter. Two Sigma Investments LP now owns 1,217,802 shares of the asset manager’s stock worth $141,277,000 after purchasing an additional 880,507 shares during the last quarter. First Trust Advisors LP raised its stake in shares of State Street by 36.8% during the third quarter. First Trust Advisors LP now owns 2,747,646 shares of the asset manager’s stock worth $318,754,000 after purchasing an additional 738,456 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of State Street during the third quarter worth approximately $62,092,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Up 2.7%

STT opened at $159.79 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.04. The firm has a market cap of $44.22 billion, a P/E ratio of 16.21, a PEG ratio of 0.85 and a beta of 1.43. State Street Corporation has a 52 week low of $94.72 and a 52 week high of $160.08. The business’s fifty day simple moving average is $144.07 and its 200 day simple moving average is $132.59.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.20. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.59 billion. State Street had a return on equity of 14.22% and a net margin of 13.47%.The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.04 earnings per share. As a group, equities research analysts anticipate that State Street Corporation will post 12.35 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.1%. State Street’s dividend payout ratio (DPR) is presently 34.08%.

Analyst Upgrades and Downgrades

STT has been the topic of a number of recent analyst reports. Royal Bank Of Canada upped their price objective on State Street from $135.00 to $155.00 and gave the stock a “sector perform” rating in a report on Monday, April 20th. JPMorgan Chase & Co. upped their price objective on State Street from $137.50 to $158.50 and gave the stock a “neutral” rating in a report on Monday, May 11th. Argus upped their price objective on State Street from $140.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Barclays set a $165.00 price objective on State Street in a report on Monday, April 20th. Finally, Weiss Ratings raised State Street from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, State Street has an average rating of “Moderate Buy” and an average price target of $158.57.

Insider Activity

In other news, EVP John Plansky sold 16,100 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total value of $2,001,552.00. Following the transaction, the executive vice president directly owned 56,162 shares in the company, valued at $6,982,059.84. This trade represents a 22.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Mostapha Tahiri sold 9,611 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $152.93, for a total value of $1,469,810.23. Following the sale, the chief operating officer owned 64,642 shares in the company, valued at approximately $9,885,701.06. The trade was a 12.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 52,476 shares of company stock valued at $7,624,925 in the last three months. Company insiders own 0.27% of the company’s stock.

State Street Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.