State Street Co. (NYSE:STT) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its holdings in shares of State Street Co. (NYSE:STT) by 46.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,369 shares of the asset manager’s stock after selling 33,723 shares during the period. Illinois Municipal Retirement Fund’s holdings in State Street were worth $2,972,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CVA Family Office LLC acquired a new stake in State Street in the 4th quarter valued at $27,000. Venturi Wealth Management LLC grew its stake in shares of State Street by 92.5% in the fourth quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after buying an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of State Street during the 4th quarter valued at about $35,000. Bruce G. Allen Investments LLC purchased a new position in State Street in the 4th quarter worth approximately $51,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in State Street in the third quarter valued at approximately $72,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STT has been the topic of a number of recent research reports. Royal Bank of Canada boosted their target price on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Bank of America reiterated an “underperform” rating and issued a $81.00 price target on shares of State Street in a research note on Thursday, January 4th. Barclays raised their price objective on State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Argus increased their target price on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, Evercore ISI lifted their price target on shares of State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $84.04.

State Street Stock Down 0.1 %

STT stock opened at $74.29 on Thursday. The firm has a market cap of $22.43 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.32 and a beta of 1.52. State Street Co. has a 1-year low of $62.78 and a 1-year high of $79.90. The firm has a fifty day moving average price of $74.14 and a two-hundred day moving average price of $72.68. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date was Thursday, March 28th. State Street’s dividend payout ratio is presently 51.69%.

Insider Buying and Selling

In other news, CFO Eric W. Aboaf sold 12,000 shares of the company’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 transaction of $886,800.00. Following the completion of the transaction, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Anthony Bisegna sold 4,258 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was 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 of the company’s stock, valued at approximately $1,717,873.92. 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 over the last quarter. 0.31% of the stock is owned by company insiders.

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.