State Street Co. (NYSE:STT) Shares Sold by Thompson Investment Management Inc.

Thompson Investment Management Inc. trimmed its stake in shares of State Street Co. (NYSE:STT) by 4.2% in the fourth quarter, Holdings Channel reports. The fund owned 75,598 shares of the asset manager’s stock after selling 3,345 shares during the period. Thompson Investment Management Inc.’s holdings in State Street were worth $7,420,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Albion Financial Group UT purchased a new position in shares of State Street during the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd increased its stake in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 197 shares in the last quarter. Coastline Trust Co purchased a new position in State Street in the 3rd quarter valued at approximately $44,000. Friedenthal Financial purchased a new position in State Street during the fourth quarter worth $49,000. Finally, Hager Investment Management Services LLC purchased a new position in State Street during the fourth quarter worth $56,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is owned by company insiders.

State Street Trading Down 0.2 %

NYSE STT opened at $99.44 on Friday. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $29.15 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The firm’s fifty day simple moving average is $98.53 and its 200-day simple moving average is $91.70.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the prior year, the company earned $2.04 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that State Street Co. will post 9.6 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend 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%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on STT shares. Evercore ISI raised their price target on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley decreased their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Truist Financial reduced their target price on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Finally, StockNews.com upgraded State Street from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $100.73.

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.