Thompson Investment Management Inc. Lowers Stock Holdings in State Street Co. (NYSE:STT)

Thompson Investment Management Inc. cut its holdings in State Street Co. (NYSE:STT - Free Report) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,598 shares of the asset manager's stock after selling 3,345 shares during the quarter. Thompson Investment Management Inc.'s holdings in State Street were worth $7,420,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several analysts recently issued reports on STT shares. Evercore ISI boosted 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. Morgan Stanley cut their price objective on shares of State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a research report on Friday, January 3rd. Wolfe Research raised State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. JPMorgan Chase & Co. raised State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price target for the company in a report on Friday, December 20th. Finally, Wells Fargo & Company raised their price objective on State Street from $108.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, State Street presently has a consensus rating of "Hold" and an average target price of $100.73.

Insider Activity at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm's 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by insiders.

State Street Price Performance

STT stock traded down $0.15 during mid-day trading on Friday, hitting $99.44. The company had a trading volume of 1,371,123 shares, compared to its average volume of 2,132,460. The company has a 50-day moving average price of $98.53 and a 200 day moving average price of $91.76. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The company has a market capitalization of $29.15 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.12 and a beta of 1.43. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT - Get Free Report) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping 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 firm's revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.04 earnings per share. On average, research analysts anticipate that State Street Co. will post 9.6 earnings per share 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 given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street's dividend payout ratio is presently 36.89%.

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.