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

Thrivent Financial for Lutherans cut its stake in State Street Co. (NYSE:STT) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,036 shares of the asset manager’s stock after selling 239 shares during the period. Thrivent Financial for Lutherans’ holdings in State Street were worth $1,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in State Street by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock valued at $632,111,000 after buying an additional 41,442 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of State Street by 30.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after purchasing an additional 1,354,560 shares during the period. Amundi increased its position in State Street by 11.1% during the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock worth $547,636,000 after purchasing an additional 561,773 shares during the last quarter. Franklin Resources Inc. raised its stake in State Street by 13.8% during the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock worth $306,116,000 after purchasing an additional 408,792 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in State Street by 21.2% in the 4th quarter. Nordea Investment Management AB now owns 2,180,504 shares of the asset manager’s stock valued at $214,998,000 after purchasing an additional 381,260 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Up 0.7 %

State Street stock opened at $89.62 on Tuesday. The firm has a market capitalization of $25.85 billion, a P/E ratio of 10.88, a P/E/G ratio of 1.11 and a beta of 1.44. 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 twelve month low of $70.20 and a twelve month high of $103.00. The stock’s fifty day simple moving average is $95.20 and its 200-day simple moving average is $94.61.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.04 EPS. As a group, equities analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.39%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on STT shares. Citigroup reduced their price target on shares of State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and upped their price target for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Barclays boosted their price objective on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $101.53.

Insiders Place Their Bets

In other news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction dated Tuesday, February 18th. The stock was 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 approximately $10,002,300. This represents a 9.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

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.