Teacher Retirement System of Texas Purchases 216,583 Shares of State Street Co. (NYSE:STT)

Teacher Retirement System of Texas boosted its position in State Street Co. (NYSE:STT) by 102.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 428,383 shares of the asset manager’s stock after purchasing an additional 216,583 shares during the quarter. Teacher Retirement System of Texas’ holdings in State Street were worth $42,046,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Albion Financial Group UT bought a new position in State Street in the fourth quarter worth about $25,000. Y.D. More Investments Ltd increased its holdings in shares of State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of State Street during the fourth quarter valued at about $42,000. Friedenthal Financial acquired a new position in shares of State Street during the fourth quarter valued at about $49,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of State Street during the fourth quarter valued at about $56,000. 87.44% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now owns 100,023 shares in the company, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

State Street Trading Up 0.3 %

State Street stock opened at $90.49 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The stock’s 50 day simple moving average is $96.00 and its two-hundred day simple moving average is $94.14. The firm has a market cap of $26.10 billion, a PE ratio of 10.98, a P/E/G ratio of 1.11 and a beta of 1.44.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter in the prior year, the firm posted $2.04 EPS. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. Analysts anticipate that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.36%. State Street’s dividend payout ratio (DPR) is 36.89%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on STT. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 price objective (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Finally, Wells Fargo & Company increased their price target on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, State Street has an average rating of “Hold” and a consensus price target of $101.20.

State Street Company 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.