Public Employees Retirement Association of Colorado cut its position in State Street Co. (NYSE:STT) by 5.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,690 shares of the asset manager’s stock after selling 3,539 shares during the period. Public Employees Retirement Association of Colorado’s holdings in State Street were worth $6,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently modified their holdings of the company. NuWave Investment Management LLC acquired a new stake in shares of State Street in the fourth quarter worth approximately $107,000. Legacy Advisors LLC boosted its stake in shares of State Street by 835.8% in the fourth quarter. Legacy Advisors LLC now owns 1,151 shares of the asset manager’s stock worth $112,000 after acquiring an additional 1,028 shares during the last quarter. Delpha Capital Management LLC acquired a new stake in shares of State Street in the fourth quarter worth approximately $113,000. Focused Wealth Management Inc acquired a new stake in shares of State Street in the fourth quarter worth approximately $117,000. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of State Street in the fourth quarter worth approximately $137,000. 88.44% of the stock is currently owned by hedge funds and other institutional investors.
In other State Street news, EVP Andrew P. Kuritzkes sold 10,248 shares of State Street stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.17, for a total value of $1,108,526.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Elizabeth Schaefer sold 1,473 shares of State Street stock in a transaction on Monday, February 26th. The shares were sold at an average price of $105.00, for a total value of $154,665.00. Following the completion of the sale, the chief accounting officer now owns 9,362 shares in the company, valued at approximately $983,010. The disclosure for this sale can be found here. Insiders sold 49,531 shares of company stock worth $5,146,169 in the last 90 days. Company insiders own 0.40% of the company’s stock.
NYSE STT opened at $98.50 on Tuesday. The firm has a market cap of $35.72 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.26 and a beta of 1.32. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.57. State Street Co. has a fifty-two week low of $79.28 and a fifty-two week high of $114.27.
State Street (NYSE:STT) last released its quarterly earnings data on Friday, April 20th. The asset manager reported $1.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.04. State Street had a return on equity of 14.23% and a net margin of 19.07%. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. equities analysts anticipate that State Street Co. will post 7.78 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 16th. Shareholders of record on Monday, April 2nd were given a $0.42 dividend. The ex-dividend date was Thursday, March 29th. This represents a $1.68 dividend on an annualized basis and a yield of 1.71%. State Street’s dividend payout ratio is currently 28.19%.
A number of analysts have recently issued reports on the company. Morgan Stanley lifted their price target on State Street from $105.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. Zacks Investment Research raised State Street from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Thursday, May 3rd. Vining Sparks reaffirmed a “buy” rating and issued a $120.00 price target on shares of State Street in a research note on Monday, January 8th. ValuEngine raised State Street from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Keefe, Bruyette & Woods set a $115.00 price target on State Street and gave the stock a “buy” rating in a research note on Wednesday, April 4th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $110.27.
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; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
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