State of New Jersey Common Pension Fund D Reduces Stock Holdings in State Street Co. (NYSE:STT)

State of New Jersey Common Pension Fund D cut its holdings in shares of State Street Co. (NYSE:STT) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 182,272 shares of the asset manager’s stock after selling 6,519 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in State Street were worth $14,119,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. CWM LLC lifted its holdings in shares of State Street by 17.2% in the third quarter. CWM LLC now owns 5,912 shares of the asset manager’s stock valued at $396,000 after buying an additional 866 shares during the period. HB Wealth Management LLC lifted its position in shares of State Street by 5.6% in the 3rd quarter. HB Wealth Management LLC now owns 3,390 shares of the asset manager’s stock worth $227,000 after acquiring an additional 181 shares during the period. Caprock Group LLC lifted its position in shares of State Street by 7.4% in the 3rd quarter. Caprock Group LLC now owns 4,317 shares of the asset manager’s stock worth $292,000 after acquiring an additional 298 shares during the period. Hennessy Advisors Inc. lifted its position in shares of State Street by 33.3% during the 3rd quarter. Hennessy Advisors Inc. now owns 4,000 shares of the asset manager’s stock worth $268,000 after buying an additional 1,000 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of State Street by 14.5% during the 3rd quarter. UMB Bank n.a. now owns 2,926 shares of the asset manager’s stock worth $196,000 after buying an additional 371 shares during the period. 87.44% of the stock is currently owned by institutional investors.

State Street Trading Down 1.4 %

State Street stock traded down $1.01 during mid-day trading on Thursday, hitting $73.28. The company’s stock had a trading volume of 5,837,130 shares, compared to its average volume of 2,409,014. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The stock has a market cap of $22.13 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 1.32 and a beta of 1.52. The business has a 50 day moving average price of $74.14 and a 200-day moving average price of $72.68. State Street Co. has a 12 month low of $62.78 and a 12 month high of $79.90.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Thursday, March 28th. State Street’s payout ratio is currently 51.69%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley lifted their target price on State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods dropped their target price on State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Argus boosted their price target on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Bank of America reaffirmed an “underperform” rating and issued a $81.00 target price on shares of State Street in a research report on Thursday, January 4th. Finally, Barclays upped their target price on State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $84.04.

Insider Buying and Selling

In other news, EVP Anthony Bisegna sold 4,258 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $73.64, for a total transaction of $313,559.12. Following the sale, the executive vice president now owns 23,328 shares in the company, valued at $1,717,873.92. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the transaction, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Anthony Bisegna sold 4,258 shares of State Street stock in a transaction on Friday, March 1st. The shares were sold at an average price of $73.64, for a total transaction of $313,559.12. Following the transaction, the executive vice president now owns 23,328 shares in the company, valued at approximately $1,717,873.92. The disclosure for this sale can be found here. Insiders sold a total of 18,864 shares of company stock valued at $1,390,597 over the last three months. Corporate insiders own 0.31% of the company’s stock.

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.