Utah Retirement Systems Cuts Stock Position in State Street Co. (NYSE:STT)

Utah Retirement Systems decreased its holdings in shares of State Street Co. (NYSE:STT) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,588 shares of the asset manager’s stock after selling 1,300 shares during the quarter. Utah Retirement Systems’ holdings in State Street were worth $4,769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Albion Financial Group UT purchased a new stake in shares of State Street in the fourth quarter worth about $25,000. Y.D. More Investments Ltd lifted its position in State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in State Street in the 4th quarter worth approximately $42,000. Coppell Advisory Solutions LLC grew its position in State Street by 2,942.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 412 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in shares of State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 311 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on STT shares. Wells Fargo & Company decreased their target price on shares of State Street from $118.00 to $113.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Morgan Stanley lowered their target price on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 target price (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Finally, Bank of America lifted their price objective on State Street from $98.00 to $99.00 and gave the stock an “underperform” rating in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $102.15.

State Street Stock Performance

Shares of STT stock opened at $88.79 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The business has a 50 day moving average of $86.94 and a two-hundred day moving average of $93.60. The company has a market cap of $25.62 billion, a P/E ratio of 10.78, a PEG ratio of 1.11 and a beta of 1.42. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00.

State Street (NYSE:STT) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same period in the prior year, the business earned $1.69 EPS. As a group, analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were given a $0.76 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.42%. State Street’s dividend payout ratio is presently 34.12%.

Insider Buying and Selling at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory L. Summe sold 10,815 shares of the 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 completion of the transaction, the director now directly owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

About State Street

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.