Thrivent Financial for Lutherans Purchases 4,035 Shares of State Street Corporation $STT

Thrivent Financial for Lutherans raised its position in shares of State Street Corporation (NYSE:STT) by 35.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,499 shares of the asset manager’s stock after buying an additional 4,035 shares during the period. Thrivent Financial for Lutherans’ holdings in State Street were worth $1,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of STT. AM Investment Strategies LLC grew its position in State Street by 14.8% during the 4th quarter. AM Investment Strategies LLC now owns 6,428 shares of the asset manager’s stock worth $829,000 after acquiring an additional 829 shares during the last quarter. Arbejdsmarkedets Tillaegspension bought a new position in State Street in the 4th quarter valued at $23,784,000. Allworth Financial LP boosted its stake in State Street by 24.6% in the fourth quarter. Allworth Financial LP now owns 3,795 shares of the asset manager’s stock worth $490,000 after purchasing an additional 750 shares in the last quarter. Madison Asset Management LLC bought a new stake in shares of State Street during the fourth quarter worth $1,378,000. Finally, World Investment Advisors bought a new stake in shares of State Street during the fourth quarter worth $315,000. Institutional investors own 87.44% of the company’s stock.

State Street Price Performance

Shares of STT stock opened at $158.49 on Wednesday. The firm has a market cap of $43.86 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 0.84 and a beta of 1.45. State Street Corporation has a 12 month low of $94.72 and a 12 month high of $158.86. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.04. The stock has a 50-day moving average price of $141.12 and a 200 day moving average price of $131.49.

State Street (NYSE:STT) last released its earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.20. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.59 billion. State Street had a net margin of 13.47% and a return on equity of 14.22%. The company’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.04 EPS. Research analysts expect that State Street Corporation will post 12.35 EPS for the current year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, July 1st. State Street’s dividend payout ratio is currently 34.08%.

Insider Buying and Selling at State Street

In other State Street news, EVP John Plansky sold 16,100 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total value of $2,001,552.00. Following the transaction, the executive vice president directly owned 56,162 shares of the company’s stock, valued at approximately $6,982,059.84. This trade represents a 22.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mostapha Tahiri sold 9,611 shares of the stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $152.93, for a total value of $1,469,810.23. Following the completion of the transaction, the chief operating officer directly owned 64,642 shares in the company, valued at approximately $9,885,701.06. This trade represents a 12.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 28,711 shares of company stock valued at $3,933,032. 0.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on STT. JPMorgan Chase & Co. lifted their price target on State Street from $137.50 to $158.50 and gave the company a “neutral” rating in a report on Monday, May 11th. Citigroup increased their price objective on shares of State Street from $150.00 to $172.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Argus raised their price objective on shares of State Street from $140.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Barclays set a $165.00 target price on shares of State Street in a research note on Monday, April 20th. Finally, Bank of America upgraded shares of State Street from an “underperform” rating to a “neutral” rating and set a $143.00 target price on the stock in a research report on Monday, April 6th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, State Street presently has an average rating of “Moderate Buy” and a consensus target price of $158.57.

State Street Company Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.