Strs Ohio Has $18.23 Million Stock Position in State Street Co. (NYSE:STT)

Strs Ohio increased its position in State Street Co. (NYSE:STT) by 23.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 235,349 shares of the asset manager’s stock after acquiring an additional 44,366 shares during the period. Strs Ohio’s holdings in State Street were worth $18,230,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in State Street by 0.4% in the first quarter. Vanguard Group Inc. now owns 34,410,077 shares of the asset manager’s stock worth $2,997,806,000 after purchasing an additional 146,048 shares during the period. Invesco Ltd. increased its position in State Street by 0.3% in the third quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock worth $698,663,000 after purchasing an additional 29,190 shares during the period. Morgan Stanley increased its position in State Street by 31.1% in the fourth quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock worth $467,876,000 after purchasing an additional 1,430,237 shares during the period. JPMorgan Chase & Co. increased its position in State Street by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 4,935,279 shares of the asset manager’s stock worth $373,551,000 after purchasing an additional 469,309 shares during the period. Finally, Northern Trust Corp increased its position in State Street by 4.1% in the third quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock worth $309,677,000 after purchasing an additional 180,093 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Trading Down 2.5 %

NYSE STT opened at $73.02 on Wednesday. The stock has a market capitalization of $22.05 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.40 and a beta of 1.52. The stock’s 50 day moving average price is $73.98 and its two-hundred day moving average price is $72.36. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.61. State Street Co. has a 52 week low of $62.78 and a 52 week high of $79.90.

State Street (NYSE:STT) last released its earnings results on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, beating the consensus estimate of $1.83 by $0.21. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.95 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.07 EPS. As a group, analysts anticipate that State Street Co. will post 7.87 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s dividend payout ratio is currently 51.69%.

Insider Transactions at State Street

In other news, EVP Anthony Bisegna sold 2,606 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the sale, the executive vice president now owns 17,737 shares in the company, valued at approximately $1,294,801. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Anthony Bisegna sold 2,606 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the sale, the executive vice president now owns 17,737 shares in the company, valued at approximately $1,294,801. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction that occurred 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 directly owns 149,063 shares in the company, valued at $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold a total of 18,864 shares of company stock worth $1,390,597 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on STT shares. Barclays boosted their target price on State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. boosted their target price on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Argus boosted their target price on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday. The Goldman Sachs Group upgraded State Street from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $69.00 to $92.00 in a research report on Wednesday, January 3rd. Finally, Evercore ISI boosted their target price on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $84.04.

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.