Thrivent Financial for Lutherans Lowers Position in State Street Co. (NYSE:STT)

Thrivent Financial for Lutherans trimmed its position in shares of State Street Co. (NYSE:STT) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,275 shares of the asset manager’s stock after selling 438 shares during the quarter. Thrivent Financial for Lutherans’ holdings in State Street were worth $1,086,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new position in State Street during the 2nd quarter worth approximately $27,000. Coastline Trust Co acquired a new position in State Street during the third quarter worth $44,000. Versant Capital Management Inc raised its position in State Street by 411.9% in the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after acquiring an additional 416 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in State Street in the third quarter valued at $54,000. Finally, Trust Co. of Vermont boosted its position in shares of State Street by 44.4% during the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock worth $48,000 after purchasing an additional 200 shares in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STT. Deutsche Bank Aktiengesellschaft increased their price target 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. Wells Fargo & Company increased their target price on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Morgan Stanley boosted their price target on State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Barclays upped their price target on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Evercore ISI lifted their price objective on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, State Street has an average rating of “Hold” and an average price target of $92.11.

State Street Trading Down 0.3 %

State Street stock opened at $98.51 on Monday. The stock has a 50-day moving average price of $92.42 and a 200 day moving average price of $83.79. State Street Co. has a 52 week low of $70.20 and a 52 week high of $99.50. The stock has a market cap of $28.88 billion, a PE ratio of 15.56, a P/E/G ratio of 1.22 and a beta of 1.46. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT) last issued its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.93 earnings per share. Equities research analysts predict that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Insider Buying and Selling at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of State Street 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 completion of the sale, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. The trade was a 20.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,460 shares of company stock worth $2,499,860. Insiders own 0.31% of the company’s stock.

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.