State Street Co. (NYSE:STT) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its holdings in State Street Co. (NYSE:STT) by 3.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,275 shares of the asset manager’s stock after selling 438 shares during the period. Thrivent Financial for Lutherans’ holdings in State Street were worth $1,086,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in STT. LSV Asset Management grew its stake in shares of State Street by 30.6% in the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock worth $390,897,000 after acquiring an additional 1,238,251 shares in the last quarter. Metropolis Capital Ltd grew its stake in State Street by 13.1% during the 2nd quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock worth $305,238,000 after purchasing an additional 479,205 shares in the last quarter. National Bank of Canada FI increased its holdings in State Street by 443.1% during the 2nd quarter. National Bank of Canada FI now owns 445,421 shares of the asset manager’s stock worth $32,765,000 after purchasing an additional 363,399 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in State Street by 1,078.9% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 305,973 shares of the asset manager’s stock valued at $22,642,000 after purchasing an additional 280,019 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of State Street by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,033,544 shares of the asset manager’s stock valued at $224,466,000 after buying an additional 259,729 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity

In other State Street news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the transaction, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,460 shares of company stock valued at $2,499,860 in the last ninety days. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

STT has been the topic of a number of recent research reports. Evercore ISI upped their target price on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Morgan Stanley boosted their target price on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company increased their target price on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, State Street currently has a consensus rating of “Hold” and an average price target of $92.11.

State Street Stock Down 0.3 %

STT opened at $98.51 on Monday. State Street Co. has a one year low of $70.20 and a one year high of $99.50. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $28.88 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46. The business’s 50-day simple moving average is $92.42 and its 200-day simple moving average is $83.79.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $2.12 by $0.14. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 earnings per share. Analysts anticipate that State Street Co. will post 8.42 EPS for the current year.

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.