Oregon Public Employees Retirement Fund Cuts Stake in State Street Co. (NYSE:STT)

Oregon Public Employees Retirement Fund reduced its stake in shares of State Street Co. (NYSE:STT) by 1.8% during the 4th quarter, HoldingsChannel reports. The fund owned 25,099 shares of the asset manager’s stock after selling 470 shares during the period. Oregon Public Employees Retirement Fund’s holdings in State Street were worth $2,463,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new position in State Street in the fourth quarter valued at approximately $272,000. KBC Group NV raised its holdings in State Street by 20.5% in the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after buying an additional 12,707 shares during the period. Janney Montgomery Scott LLC raised its holdings in State Street by 11.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock valued at $7,289,000 after buying an additional 7,446 shares during the period. Merit Financial Group LLC purchased a new position in State Street in the fourth quarter valued at approximately $395,000. Finally, Asset Management One Co. Ltd. raised its holdings in State Street by 17.3% in the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after buying an additional 20,183 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Stock Up 0.2 %

STT stock opened at $97.57 on Friday. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $28.15 billion, a P/E ratio of 11.84, a PEG ratio of 1.11 and a beta of 1.43. The firm has a 50 day simple moving average of $98.57 and a 200-day simple moving average of $93.35.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.04 earnings per share. On average, equities research analysts predict that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio is presently 36.89%.

Analysts Set New Price Targets

Several research analysts recently commented on STT shares. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and raised their price target for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Barclays increased their price objective on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company increased their price objective on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Finally, Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, State Street currently has a consensus rating of “Hold” and a consensus target price of $100.73.

Insiders Place Their Bets

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

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.