State Street Co. (NYSE:STT) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of State Street Co. (NYSE:STT) by 1.4% during the 4th quarter, Holdings Channel reports. The firm owned 701,217 shares of the asset manager’s stock after selling 10,199 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in State Street were worth $68,824,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC lifted its holdings in State Street by 30.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after buying an additional 1,354,560 shares in the last quarter. FMR LLC increased its position in shares of State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after acquiring an additional 833,679 shares during the period. Wellington Management Group LLP raised its stake in shares of State Street by 818.1% in the third quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock valued at $45,889,000 after acquiring an additional 462,201 shares in the last quarter. National Bank of Canada FI boosted its holdings in State Street by 99.4% in the third quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager’s stock valued at $78,574,000 after purchasing an additional 442,725 shares during the period. Finally, Franklin Resources Inc. grew its stake in State Street by 13.8% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Down 0.2 %

STT opened at $99.44 on Monday. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $29.15 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The business’s 50-day simple moving average is $98.53 and its 200-day simple moving average is $91.76.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS 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 analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.04 earnings per share. Analysts anticipate that State Street Co. will post 9.6 EPS for the current year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio is currently 36.89%.

Insiders Place Their Bets

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and raised their target price for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $103.00 price target (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Evercore ISI raised their price objective on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, State Street currently has an average rating of “Hold” and a consensus price target of $100.73.

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.