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

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of State Street Co. (NYSE:STT) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 701,217 shares of the asset manager’s stock after selling 10,199 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of State Street worth $68,824,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Hotchkis & Wiley Capital Management LLC increased its holdings in State Street by 30.4% in 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 acquiring an additional 1,354,560 shares in the last quarter. FMR LLC increased its stake 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 purchasing an additional 833,679 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of State Street by 818.1% during the third quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock worth $45,889,000 after purchasing an additional 462,201 shares in the last quarter. National Bank of Canada FI raised its position in shares of State Street by 99.4% during the 3rd quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager’s stock worth $78,574,000 after purchasing an additional 442,725 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in State Street by 13.8% in the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after buying an additional 408,792 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

STT has been the subject of several research reports. Barclays boosted their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research note on Friday, December 20th. Wells Fargo & Company lifted their target price on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. Evercore ISI increased their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued 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 $100.73.

State Street Stock Down 0.2 %

STT stock 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 firm has a market cap of $29.15 billion, a PE ratio of 12.07, a PEG ratio of 1.12 and a beta of 1.43. The firm’s 50 day moving average price is $98.53 and its 200-day moving average price is $91.76. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.04 earnings per share. On average, equities research analysts anticipate that State Street Co. will post 9.6 EPS for the current year.

State Street Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were 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 represents a 10.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by 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.