State Street Co. (NYSE:STT) Shares Sold by Tidal Investments LLC

Tidal Investments LLC lessened its position in State Street Co. (NYSE:STT) by 5.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,844 shares of the asset manager’s stock after selling 549 shares during the period. Tidal Investments LLC’s holdings in State Street were worth $776,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of State Street in the third quarter valued at approximately $1,125,000. Sanctuary Advisors LLC grew its holdings in State Street by 6.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 14,700 shares of the asset manager’s stock worth $1,433,000 after buying an additional 860 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in State Street by 1.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 310,909 shares of the asset manager’s stock worth $27,506,000 after buying an additional 4,936 shares in the last quarter. Coldstream Capital Management Inc. increased its position in State Street by 12.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,514 shares of the asset manager’s stock valued at $404,000 after acquiring an additional 486 shares during the period. Finally, Geode Capital Management LLC raised its stake in State Street by 0.6% during 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 acquiring an additional 41,442 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research report on Thursday. Morgan Stanley upgraded shares of State Street from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $102.00 to $139.00 in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and an average target price of $98.36.

State Street Stock Performance

Shares of NYSE STT opened at $98.20 on Friday. State Street Co. has a 52-week low of $70.20 and a 52-week high of $101.91. The stock has a market capitalization of $28.79 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.24 and a beta of 1.44. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock’s fifty day simple moving average is $95.56 and its 200 day simple moving average is $86.05.

State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the company earned $1.93 EPS. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. As a group, sell-side analysts forecast that State Street Co. will post 8.42 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 Monday, January 13th. Investors of record on Thursday, January 2nd will be given a $0.76 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.10%. State Street’s dividend payout ratio (DPR) is presently 48.03%.

Insider Buying and Selling

In other news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the transaction, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. This represents a 20.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was 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. This trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,460 shares of company stock valued at $2,499,860. Company insiders own 0.31% of the company’s stock.

About State Street

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.